MIRA INFORM REPORT

 

 

Report No. :

333904

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

INDIGO JEWELLERY (INDIA) MFG PRIVATE LIMITED (w. e. f. 08.09.2009)

 

 

Formerly Known As :

IDI JEWELS PRIVATE LIMITED (w. e. f. 29.12.2008)

 

IMPERIAL JEWELS PRIVATE LIMITED

 

 

Registered Office :

Plot No. GJ 008, Seepz, Andheri (East), Mumbai-400098, Maharashtra

Tel. No.:

91-22-40696969

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.04.2005

 

 

Com. Reg. No.:

11-152875

 

 

Capital Investment / Paid-up Capital :

Rs. 0.134 Million

 

 

CIN No.:

[Company Identification No.]

U36910MH2005PTC152875

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCI3591E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Polished Diamonds and Fine Diamond Jewellery.

 

 

No. of Employees :

 100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

There seems dip in the sales turnover and profit of the company during FY 2014.

 

The rating also takes into consideration intense competitive pressure in the fragmented gems and Jewellery industry from players in the organized and unorganized sector.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealing with some caution.

 

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 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Short Term Fund Based Limits = A3+

Rating Explanation

Have moderate degree of safety and higher credit risk.

Date

July, 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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ashutosh Potdar

Designation :

Account Executive

Contact No.:

91-22-40696969

Date :

29.07.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No. GJ 008, Seepz, Andheri (East), Mumbai-400098, Maharashtra, India

Tel. No.:

91-22-40696969

Fax No.:

91-22-40696969

E-Mail :

indigo@svinodkumar.com

ashutosh.potdar@svinodkumar.com

Website :

http://indigojewellery.com

 

 

DIRECTORS

 

AS ON: 30.09.2014

 

Name :

Mr. Samir Vinod Shah

Designation :

Director

Address :

71, Anupam Building, 11, Manav Mandir Road, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

19.09.1980

Date of Appointment :

29.04.2005

PAN No:

AKUPS9930K

DIN No.:

00102577

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U85190MH1983PTC031600

INDON LABS PRIVATE LIMITED

Director

13/04/2004

13/04/2004

25/12/2014

Active

NO

2

U36991MH1999PTC122443

S V K JEWELS PRIVATE LIMITED

Director

01/11/2004

01/11/2004

-

Amalgamated

NO

3

U36910MH2004PTC149769

S. VINODKUMAR DIAMONDS PRIVATE LIMITED

Whole-time director

01/12/2004

01/12/2004

25/12/2014

Active

NO

4

U36910MH2005PTC152875

INDIGO JEWELLERY (INDIA) MFG. PRIVATE LIMITED

Director

29/04/2005

29/04/2005

-

Active

NO

5

U36911MH2004PTC149065

JIGNA DIAMOND PRIVATE LIMITED

Director

29/09/2007

29/09/2007

26/12/2014

Active

NO

6

U36910MH2004PTC149057

AMI DIAMOND PRIVATE LIMITED

Director

29/09/2007

29/09/2007

26/12/2014

Active

NO

7

U36911MH2008PTC184552

INDIGO JEWELLERY PRIVATE LIMITED

Director

11/07/2008

11/07/2008

-

Active

NO

8

U36912MH1989GAP053844

SEEPZ GEMS AND JEWELLERY MANUFACTURERS ASSOCIATION

Director appointed in casual vacancy

24/09/2014

24/09/2014

-

Active

NO

 

 

Name :

Mr. Manish Sumatilal Shah

Designation :

Director

Address :

9 Jeevan Villa, 9th Floor, A 351, Narayan Dabholkar Road, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

05.07.1972

Date of Appointment :

28.04.2005

PAN No:

ADRPS1088E

DIN No.:

00102631

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U67120GJ1996PTC028665

DP SONS FINVEST PRIVATE LIMITED

Director

22/01/1996

22/01/1996

-

Active

NO

2

U36991MH1999PTC122443

S V K JEWELS PRIVATE LIMITED

Director

28/10/1999

28/10/1999

-

Amalgamated

NO

3

U85190MH1983PTC031600

INDON LABS PRIVATE LIMITED

Director

13/04/2004

13/04/2004

-

Active

NO

4

U36910MH2004PTC149769

S. VINODKUMAR DIAMONDS PRIVATE LIMITED

Whole-time director

01/12/2004

01/12/2004

-

Active

NO

5

U36910MH2005PTC152875

INDIGO JEWELLERY (INDIA) MFG. PRIVATE LIMITED

Director

28/04/2005

28/04/2005

-

Active

NO

6

U36911MH2004PTC149065

JIGNA DIAMOND PRIVATE LIMITED

Director

29/09/2007

29/09/2007

-

Active

NO

7

U36910MH2004PTC149057

AMI DIAMOND PRIVATE LIMITED

Director

29/09/2007

29/09/2007

-

Active

NO

8

U36911MH2008PTC184552

INDIGO JEWELLERY PRIVATE LIMITED

Director

30/09/2009

11/07/2008

-

Active

NO

9

U36900MH2000PTC128133

SUDHIR DIAMONDS PRIVATE LIMITED

Director

15/12/2010

15/12/2010

-

Active

NO

10

AAA-0459

S.VINODKUMAR SALES LLP

Designated Partner

07/12/2009

07/12/2009

-

Active

NO

11

AAA-0535

ACREAGE ENTERPRISES LLP

Body corporate as Designated Partner

29/12/2009

29/12/2009

16/01/2013

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Manish Lalit Chandra Ghia

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Manish S. Shah

 

4125

Amish V. Shah

 

5325

Sumatilal D. Shah

 

1700

Vinod D. Shah

 

500

Kamlesh D. Shah

 

500

Samir V. Shah

 

25

Meenaben K. Shah

 

325

S. Vinodkumar International PTE Limited

 

879

 

 

 

Total

 

13379

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 30.09.2014

 

Category

Percentage

Bodies corporate

6.57

Directors or relatives of Directors

93.43

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Polished Diamonds and Fine Diamond Jewellery.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit (30/60/90 Days)

 

 

Purchasing :

Cash and Credit (30/60/90 Days)

 

 

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users and OEM’s

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Banker Name

Bank of India

Branch Address

Seepz Mid Corporate Branch, Behind Seepz Service Centre, Marol Industrial Area Seepz, Mumbai-400096, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash/Credit – Rs. 190.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged
  • Union Bank of India, Overseas Branch, Seepz+ +, Unit 007, Block No. II, Seepz++ Complex, Marol Industrial Area, Andheri, Mumbai-400096, Maharashtra, India

 

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Working Capital Loans from Banks

256.988

166.986

 

 

 

Total

256.988

166.986

 

Auditors :

 

Name :

J K Shah and Company

Chartered Accountants

Address :

3rd Floor, Flat No. 14, Al-Karim, Manzil 15, Palton Road, Mumbai-400001, Maharashtra, India

PAN No.:

AAAFJ1725D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:
  • S Vinod Kumar Diamonds Private Limited
  • Indigo Jewellery Private Limited, India
  • IDI Jewels Inc., United States of America
  • Indigo Jewels Limited, Hong Kong
  • R.A. Gem Centre Ltd, Hong Kong

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs.10/- each

Rs. 2.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

13379

Equity Shares

Rs.10/- each

Rs. 0.134 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

0.134

0.134

0.100

(b) Reserves & Surplus

681.621

615.278

513.921

(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)

681.755

615.412

514.021

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.600

2.500

99.235

(b) Deferred tax liabilities (Net)

15.208

14.932

11.948

(c) Other long term liabilities

0.000

0.000

0.034

(d) long-term provisions

1.012

1.072

1.726

Total Non-current Liabilities (3)

17.820

18.504

112.943

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

256.988

166.986

44.196

(b) Trade payables

223.382

345.289

402.515

(c) Other current liabilities

3.591

3.480

27.980

(d) Short-term provisions

1.233

0.019

1.682

Total Current Liabilities (4)

485.194

515.774

476.373

 

 

 

 

TOTAL

1184.769

1149.690

1103.337

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

151.587

159.919

165.916

(ii) Intangible Assets

1.672

2.086

2.536

(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

0.000

0.000

94.134

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

21.924

18.979

123.194

(e) Other Non-current assets

4.518

4.174

0.000

Total Non-Current Assets

179.701

185.158

385.780

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.001

0.000

(b) Inventories

468.813

471.455

292.623

(c) Trade receivables

459.029

466.531

390.810

(d) Cash and cash equivalents

54.707

5.370

19.356

(e) Short-term loans and advances

1.398

4.974

2.190

(f) Other current assets

21.121

16.201

12.578

Total Current Assets

1005.068

964.532

717.557

 

 

 

 

TOTAL

1184.769

1149.690

1103.337

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

TOTAL REVENUE

1049.759

1117.956

985.528

 

 

 

 

 

Less:

EXPENSES

951.988

981.177

905.484

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

97.771

136.779

80.044

 

 

 

 

 

Less:

FINANCIAL EXPENSES

7.240

12.479

6.713

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

90.531

124.300

73.331

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION

10.761

11.043

10.356

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

79.770

113.257

62.975

 

 

 

 

 

Less:

TAX

13.428

11.899

3.833

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

66.342

101.358

59.142

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

1018.838

1057.106

970.769

 

Freight

2.335

1.532

1.593

 

Raw Material Export

53.321

16.740

84.621

 

TOTAL EARNINGS

1074.494

1075.378

1056.983

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

128.096

215.085

265.047

 

Stores and Consumable

9.737

7.576

5.208

 

Capital Goods

0.165

2.467

2.968

 

TOTAL IMPORTS

137.998

225.128

273.223

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 4958.67

 7575.90

5914.20 

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1100.000

 

 

The above information has been parted by Mr. Ashutosh (Account Executive)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

24.544

Cash generated from operations

NA

NA

NA

Net Cash Flows from (used in) Operations

2.600

(127.473)

(57.867)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

6.32

9.07

6.00

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

9.31

12.23

8.12

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.73

9.85

6.24

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.18

0.12

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.38

0.28

0.28

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.07

1.87

1.51

 

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.100

0.134

0.134

Reserves & Surplus

513.921

615.278

681.621

Net worth

514.021

615.412

681.755

 

 

 

 

long-term borrowings

99.235

2.500

1.600

Short term borrowings

44.196

166.986

256.988

Total borrowings

143.431

169.486

258.588

Debt/Equity ratio

0.279

0.275

0.379

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue

985.528

1117.956

1049.759

 

 

13.437

(6.100)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue

985.528

1117.956

1049.759

Profit

59.142

101.358

66.342

 

6.00%

9.07%

6.32%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

 

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS:

 

 

Intercorporate Borrowings

1.600

2.500

 

 

 

Total

1.600

2.500

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10495250

29/03/2014

100,000,000.00

IDBI Bank Limited

PLOT NO. C-7, G- BLOCK, OPPOSITE NSE BUILDING, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA

C03569894

2

10354808

18/04/2012

190,000,000.00

Bank of India

SEEPZ MID CORPORATE BRANCH, BEHIND SEEPZ SERVICE CENTRE, MAROL INDUSTRIAL AREA, SEEPZ, MUMBAI, MAHARASHTRA - 400096, INDIA

B39362801

3

10115616

01/08/2008

10,000,000.00

UNION BANK OF INDIA

OVERSEA BRANCH, SEEPZ ++, UNIT 007, BLOCK NO. II, SEEPZ++ COMPLEX, MAROL INDUSTRIAL AREA, ANDHERI, MUMBAI, MAHARASHTRA - 400096, INDIA

A42914432

4

10111183

12/06/2008

215,000,000.00

UNION BANK OF INDIA

OVERSEAS BRANCH,SEEPZ ++, UNIT NO.007, BLOCK NO.II, SEEPZ++ COMPLEX, MAROL INDUSTRIAL AREA, ANDHERI, MAHARASHTRA - 400096, INDIA

A40788044

5

10083712

22/10/2007

110,000,000.00

UNION BANK OF INDIA

OVERSEA BRANCH, SEEPZ

+ +, UNIT 007, BLOCK NO. II, SEEPZ++ COMPLEX, MAROL INDUSTRIAL AREA, ANDHERI, MUMBAI, MAHARASHTRA - 400096, INDIA

A30674576

6

10025410

07/11/2006

160,000,000.00

UNION BANK OF INDIA

OVERSEAS BRANCH, SEEPZ++, UNIT 007, BLOCK NO II, SEEPZ++ COMPLEX,MAROL

INDUSTRIAL AREA,ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA

A06517809

7

10025371

05/10/2006

82,500,000.00

UNION BANK OF INDIA

OVERSEAS BRANCH, SEEPZ++, UNIT 007, BLOCK NO II, SEEPZ++ COMPLEX,MAROL INDUSTRIAL AREA,ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA

A06518252

8

10025373

05/10/2006

160,000,000.00

UNION BANK OF INDIA

OVERSEAS BRANCH, SEEPZ++, UNIT 007, BLOCK NO II, SEEPZ++ COMPLEX,MAROL INDUSTRIAL AREA, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA

A06518047

9

10025409

05/10/2006

150,000,000.00

UNION BANK OF INDIA

OVERSEAS BRANCH, SEEPZ++, UNIT 007, BLOCK NO II, SEEPZ++ COMPLEX,MAROL INDUSTRIAL AREA, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA

A06517650

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

 

 

 

Income Tax Demand

0.463

0.423

 

 

 

 

 

 

 

 

 

 

FIXED ASSETS:

 

Tangible

 

 

Intangible

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 64.01

UK Pound

1

Rs. 99.84

Euro

1

Rs. 70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

RSM

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

30

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.