MIRA INFORM REPORT
|
Report No. : |
330219 |
|
Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
S VIRAJ DIAM |
|
|
|
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Registered
Office : |
DW-2300, 2nd Floor, D Tower, West Wing, G Block, Bharat Diamond
Bourse, BKC, Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-33923088 / 33923089 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 [Provisional] |
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Date of
Incorporation : |
17.10.2010 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.0.019 Million |
|
|
|
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IEC No.: |
0310064104 |
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|
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TIN No.: |
27210802556V |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
ABVFS0114P |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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|
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Line of Business
: |
Trader and Exporter of Cut and Polished Diamonds. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 2010 as partnership concern and it
is a trader and exporter of cut and polished diamonds. It is having moderate
track. For the financial year ended 2014, concern possesses moderate
operational performance and it has registrar sales turnover of Rs.78.900
Million on a net loss of Rs.(0.733) Million as compared to previous year
turnover (2013) of Rs.52.300 Million with a profit of Rs.0.135 Million. Rating also takes into consideration concern’s moderate financial risk
profile backed by high competitive nature of diamond industry and volatility
of concern profit margins to forex price fluctuation. However, as per provisional financial of 2015, concern has registered
growth in its sales turnover profile and it has achieved profit from its
operation. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of aforesaid, the concern can be considered for business
dealings 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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. Asimbhai Rameshbhai Shah |
|
Designation : |
Partner |
|
Contact No.: |
91-9819086777 |
|
Date : |
20.08.2015 |
LOCATIONS
|
Registered Office : |
DW-2300, 2nd Floor, D Tower, West Wing, G Block, Bharat Diamond
Bourse, BKC, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-33923088 / 33923089 |
|
Mobile No.: |
91-9819086777 (Mr. Asim Rameshbhai Shah) |
|
Fax No.: |
91-22-23616777 |
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E-Mail : |
|
|
|
|
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Correspondence
and Branch office : |
502, Yashodhan Building, Opposite Dena Bank, Nehru Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
PARTNERS
|
Name : |
Mr. Asimbhai Rameshbhai Shah |
|
Designation : |
Partner |
|
Address : |
502, Yashodhan Building, Opposite Dena Bank, Nehru Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1982 |
|
PAN No.: |
ANGPS8656M |
|
Qualification : |
B.B.A. |
|
Passport No.: |
Z2082128 |
|
|
|
|
Name : |
Mrs. Anjanaben Rameshbhai Shah |
|
Designation : |
Partner |
|
Address : |
6-B, Siddha Shila Apartment, Nanpura Timaliawad, Surat, Gujarat, India |
|
Date of Birth/Age : |
18.07.1955 |
|
PAN No.: |
AAMPV1261C |
|
Qualification : |
S.S.C. |
|
Passport No.: |
A7405308 |
|
|
|
|
Name : |
Mrs. Riddhi Asimbhai Shah |
|
Designation : |
Partner |
|
Address : |
502, Yashodhan Building, Opposite Dena Bank, Nehru Road, Vile Parle (East),
Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1982 |
|
PAN No.: |
ASPPS8284F |
|
Qualification : |
M.B.A. (Marketing) |
|
Passport No.: |
H3602481 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Cut and Polished Diamonds. |
|
|
|
|
Products : |
Cut and Polished Diamonds |
|
|
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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 : |
Cut and Polished Diamonds |
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Countries : |
Hong Kong |
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Imports : |
Not Divulged |
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Terms : |
|
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Selling : |
Credit (60 days / 90 days) |
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Purchasing : |
Credit (120 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
10(Approximately) |
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Bankers : |
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Facilities : |
-- |
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Auditors : |
|
|
Name : |
V. A. Parikh and Associates Chartered Accountants |
|
Address : |
7/C, Nusser House, 20 M P Road, Opera House, Mumbai – 400004,
Maharashtra, India |
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Tel. No.: |
91-22-23698854 / 23695018 |
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Fax No.: |
91-22-23615110 |
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Website : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
--- |
CAPITAL STRUCTURE
CAPITAL ACCOUNT AS ON 31.03.2015 [PROVISIONAL]
|
Capital Investment : |
|
|
Owned : |
Rs.0.019 Million |
|
Borrowed : |
|
|
Total : |
Rs.0.019 Million
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
OWNED FUNDS |
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
|
Partner’s capital |
|
|
|
|
|
1] Capital Account |
0.019 |
0.750 |
3.090 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.260 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.279 |
0.750 |
3.090 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4.213 |
4.012 |
3.871 |
|
|
TOTAL
BORROWING |
4.213 |
4.012 |
3.871 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
5.492 |
4.762 |
6.961 |
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.827 |
0.911 |
0.331 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
44.852 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
27.661 |
8.259 |
|
|
Cash & Bank Balances |
0.455 |
0.101 |
1.737 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.389 |
0.382 |
0.349 |
|
Total Current Assets |
45.696 |
28.144 |
10.345 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Creditors and Current Liabilities |
40.985 |
24.293 |
3.652 |
|
|
Provisions |
0.046 |
0.000 |
0.063 |
|
Total Current Liabilities |
41.031 |
24.293 |
3.715 |
|
|
Net Current
Assets |
4.665 |
3.851 |
6.630 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.492 |
4.762 |
6.961 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
93.333 |
78.903 |
52.327 |
|
|
Other Income |
2.301 |
0.039 |
0.088 |
|
|
TOTAL |
95.634 |
78.942 |
52.415 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods Sold |
91.886 |
76.781 |
50.122 |
|
|
Salaries |
0.299 |
0.000 |
0.000 |
|
|
Repairing and Maintenance
|
0.019 |
0.000 |
0.000 |
|
|
Office Rent |
0.300 |
0.000 |
0.000 |
|
|
Export Commission paid |
0.204 |
0.000 |
0.000 |
|
|
export clearing charges |
0.011 |
0.000 |
0.000 |
|
|
Export Freight Charges |
0.166 |
0.000 |
0.000 |
|
|
Agency Charges |
0.017 |
0.000 |
0.000 |
|
|
Printing Stationary
Charges |
0.018 |
0.000 |
0.000 |
|
|
Computer General Charges |
0.010 |
0.000 |
0.000 |
|
|
Bank Commission Charges |
0.105 |
0.000 |
0.000 |
|
|
Travelling Expenses
(Local) |
0.004 |
0.000 |
0.000 |
|
|
Travelling Expenses
(Foreign) |
0.224 |
0.000 |
0.000 |
|
|
Electricity Charges |
0.070 |
0.000 |
0.000 |
|
|
Motor Car Expenses |
0.042 |
0.000 |
0.000 |
|
|
Professional and Legal
Charges |
0.097 |
0.000 |
0.000 |
|
|
Interest on TDS Late
Payment |
0.002 |
0.000 |
0.000 |
|
|
Conveyance Expenses |
0.013 |
0.000 |
0.000 |
|
|
Bank Loans Interest |
0.000 |
0.000 |
0.000 |
|
|
Telephone Charges and
Expenses |
0.077 |
0.000 |
0.000 |
|
|
Membership Fees |
0.083 |
0.000 |
0.000 |
|
|
Reassortment Charges |
0.008 |
0.000 |
0.000 |
|
|
Office Expenses |
0.064 |
0.000 |
0.000 |
|
|
Loan Interest |
0.515 |
0.000 |
0.000 |
|
|
Debit Card Expenses |
0.027 |
0.000 |
0.000 |
|
|
Selling and Distribution
Expenses |
0.000 |
1.074 |
0.470 |
|
|
Administrative Expenses |
0.000 |
0.978 |
0.606 |
|
|
Partner Remuneration |
0.000 |
0.150 |
0.393 |
|
|
Donation u/s 80 G |
0.000 |
0.028 |
0.000 |
|
|
Income Tax w/off - AY
2013-2014 |
0.000 |
0.005 |
0.000 |
|
|
VAT w/off - FY 2012-2013 |
0.000 |
0.004 |
0.000 |
|
|
Interest of TDS |
0.000 |
0.002 |
0.001 |
|
|
Interest on Professional
Tax |
0.000 |
0.000 |
0.000 |
|
|
Penalty on Professional
Tax |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
94.261 |
79.022 |
51.592 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1.373 |
(0.080) |
0.823 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.467 |
0.438 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.373 |
(0.547) |
0.385 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.113 |
0.186 |
0.187 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.260 |
(0.733) |
0.198 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.062 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.260 |
(0.733) |
0.136 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.35 |
(0.93) |
0.26 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.47 |
(0.10) |
1.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.71 |
(2.52) |
1.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.99 |
(0.98) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.29 |
5.35 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.16 |
2.78 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 [Provisional] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Capital Account |
3.090 |
0.750 |
0.019 |
|
Reserves & Surplus |
0.000 |
0.000 |
1.260 |
|
Net worth |
3.090 |
0.750 |
1.279 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
3.871 |
4.012 |
4.213 |
|
Total borrowings |
3.871 |
4.012 |
4.213 |
|
Debt/Equity ratio |
1.253 |
5.349 |
3.294 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 [Provisional] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
52.327 |
78.903 |
93.333 |
|
|
|
50.788 |
18.288 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 [Provisional] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
52.327 |
78.903 |
93.333 |
|
Profit/(Loss) |
0.136 |
(0.733) |
1.260 |
|
|
0.26% |
(0.93%) |
1.35% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
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 |
-----------------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------------
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 [Provisional] |
31.03.2014 |
|
|
(Rs. in Million) |
|
|
Loans from friends and relatives |
4.213 |
0.000 |
|
Loans from
relatives |
|
|
|
Kailash Shantilal Mehta HUF |
0.000 |
0.600 |
|
Kailash Shantilal Mehta |
0.000 |
0.400 |
|
Kinjal Kunal Mehta |
0.000 |
0.500 |
|
Riddhi Asim Shah |
0.000 |
1.856 |
|
Rameshbhai Dalpatlal Shah |
0.000 |
0.656 |
|
Total |
4.213 |
4.012 |
-----------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
ASSESSMENT YEAR
2013-2014
(RS. IN MILLION)
|
PARTICULAR |
2013-2014 |
||
|
Income from Business or Profession (Chapter IV D) maximum Salary of
Rs.0.392 Million |
|
|
0.111 |
|
Profit as per profit and loss A/C |
|
0.198 |
|
|
Add: |
|
|
|
|
Depreciation Debited in profit and loss A/C |
|
0.187 |
|
|
Interest of TDS |
|
0.001 |
|
|
Interest on Professional Tax |
|
0.000 |
|
|
Penalty on Professional Tax |
|
0.000 |
|
|
Remuneration Paid of Partners |
|
0.392 |
|
|
Total |
|
0.778 |
|
|
Less : |
|
|
|
|
Interest on Fixed Deposit with bank |
0.088 |
|
|
|
Depreciation as per Chart u/s 32 |
0.187 |
0.275 |
|
|
Total |
|
0.503 |
|
|
|
|
|
|
|
Profit Before Remuneration |
|
0.503 |
|
|
Remuneration Allowable |
|
0.392 |
|
|
Total |
|
0.111 |
|
|
|
|
|
|
|
Income from other sources
(Chapter IV F) |
|
|
0.088 |
|
Interest on Fixed Deposit with bank |
|
0.088 |
|
|
|
|
|
|
|
Gross Total Income |
|
|
0.199 |
|
|
|
|
|
|
Total Income |
|
|
0.199 |
|
Round off u/s 288A |
|
|
|
|
Deduction u/s 10AA, 80H to 80RRb (except Sec.80P) not claimed hence
AMT not applicable |
|
|
0.199 |
|
|
|
|
|
|
Tax Due |
|
0.060 |
|
|
Educational Cess |
|
0.001 |
|
|
|
|
0.061 |
|
|
TDS |
|
0.008 |
|
|
|
|
0.053 |
|
|
Interest u/s 234 A/B/C |
|
0.006 |
|
|
|
|
0.059 |
|
|
Deposit u/s 140A |
|
0.060 |
|
|
|
|
|
|
|
Refundable (Round off u/s 288B) |
|
0.001 |
|
-----------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME OF PARTNERS
MR. ASIMBHAI RAMESHBHAI SHAH
ASSESSMENT YEAR
2014-2015
(RS. IN MILLION)
|
PARTICULAR |
2014-2015 |
||
|
Profits and gains from business and profession |
|
|
0.748 |
|
Profit from Firm : Viraj Jewels |
|
|
|
|
Remuneration |
|
0.125 |
|
|
Interest |
|
0.142 |
|
|
|
|
0.267 |
|
|
|
|
|
|
|
Profit from Firm : S. Viraj Diam |
|
|
|
|
Remuneration |
|
0.075 |
|
|
Interest |
|
(0.001) |
|
|
Profit |
|
(0.244) |
|
|
|
|
(0.170) |
|
|
Less : Profit Exempt u/s 10 (2A) |
|
0.244 |
|
|
|
|
0.074 |
|
|
|
|
|
|
|
Profit u/s 44AD – Trading of Diamonds u/s 44AD |
|
|
|
|
Profit Deemed u/s 44AD@8% of Rs.5.083 |
0.407 |
|
|
|
Profit Declared u/s 44AD@8% of Rs.5.083 |
0.407 |
|
|
|
Profit (Higher other sources) |
0.407 |
|
|
|
|
|
|
|
|
Income from other sources |
|
|
0.002 |
|
Bank SB Interest |
|
0.002 |
|
|
Total |
|
0.002 |
|
|
|
|
|
|
|
Gross Total Income |
|
|
0.750 |
|
|
|
|
|
|
Less deduction under chapter – VIA |
|
|
|
|
80C Deduction |
|
0.100 |
|
|
80D Medical Insurance Premia |
|
0.015 |
|
|
80TTA Interest on deposits in Savings
Account |
|
0.002 |
|
|
Total Deduction |
|
|
0.117 |
|
|
|
|
|
|
Total Income |
|
|
0.633 |
|
Total income rounded off u/s 288A |
|
|
0.633 |
-----------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME OF PARTNERS
MRS. ANJANABEN RAMESHBHAI SHAH
ASSESSMENT YEAR
2014-2015
(RS. IN MILLION)
|
PARTICULAR |
2014-2015 |
||
|
Profits and gains from business and profession |
|
|
0.456 |
|
Commision
|
|
0.067 |
|
|
|
|
|
|
|
Profit from Firm : Viraj Jewels |
|
|
|
|
Interest |
|
0.103 |
|
|
Less : Interest Expenses |
|
(0.009) |
|
|
Total |
|
0.094 |
|
|
|
|
|
|
|
Profit from Firm : S. Viraj Diam |
|
|
|
|
Profit |
|
(0.244) |
|
|
Less : Profit Exempt u/s 10 (2A) |
|
0.244 |
|
|
Total |
|
0.000 |
|
|
|
|
|
|
|
Profit u/s 44AD – Trading of Diamonds u/s 44AD |
|
|
|
|
Profit Deemed u/s 44AD@8% of Rs.3.703 |
|
0.296 |
|
|
Profit Declared u/s 44AD@8% of Rs.3.703 |
|
0.296 |
|
|
Profit (Higher other sources) |
|
0.296 |
|
|
|
|
|
|
|
Income from other sources |
|
|
0.001 |
|
Bank SB Interest |
|
0.001 |
|
|
Total |
|
0.001 |
|
|
|
|
|
|
|
Gross Total Income |
|
|
0.457 |
|
|
|
|
|
|
Less deduction under chapter – VIA |
|
|
|
|
80C Deduction |
|
0.026 |
|
|
80TTA Interest on deposits in Savings
Account |
|
0.001 |
|
|
Total Deduction |
|
|
0.027 |
|
|
|
|
|
|
Total Income |
|
|
0.430 |
|
Total income rounded off u/s 288A |
|
|
0.430 |
-----------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME OF PARTNERS
MRS. RIDDHI ASIMBHAI SHAH
ASSESSMENT YEAR
2014-2015
(RS. IN MILLION)
|
PARTICULAR |
2014-2015 |
||
|
Heads of Income |
|
|
|
|
-Profit / Gains of Business/Profession |
|
|
0.100 |
|
-Income from other sources |
|
|
0.335 |
|
|
|
|
|
|
Gross Total Income |
|
|
0.435 |
|
|
|
|
|
|
Less : Deduction Under Chapter VIA |
|
|
|
|
-80C |
0.007 |
|
|
|
|
|
0.007 |
|
|
-80D |
0.004 |
|
|
|
|
|
0.004 |
|
|
-80TTA |
0.006 |
|
|
|
|
|
0.006 |
|
|
Total |
|
|
0.017 |
|
|
|
|
|
|
Net Taxable Income |
|
|
0.418 |
|
Rounded off to |
|
|
0.418 |
|
|
|
|
|
|
Tax Free Income |
|
|
0.148 |
|
|
|
|
|
|
Tax Position |
|
|
|
|
|
|
|
|
|
Tax payable on Income of Rs.0.418 |
|
|
0.022 |
|
Less: Rebate 87A |
|
|
0.002 |
|
Total |
|
|
0.020 |
|
Add: Education Cess @2% |
|
|
0.000 |
|
Add: Secondary Education Cess @1% |
|
|
0.000 |
|
Net Tax Payable |
|
|
0.020 |
|
Less : Tax Deducted / Collected at source |
|
|
|
|
-TDS on Section 194A |
|
0.020 |
|
|
-TDS on Section 194J |
|
0.010 |
0.030 |
|
|
|
|
|
|
Total |
|
|
(0.010) |
|
Refund due (Exclusive of Interest u/s 244A)
(Rounded off) |
|
|
0.010 |
-----------------------------------------------------------------------------------------------------------------------------
MR. ASIMBHAI RAMESHBHAI
SHAH
CAPITAL
ACCOUNT AS ON 31.03.2014
(RS. IN MILLION)
|
Particulars |
Debit Amount |
Credit Amount |
|
Balance B/F |
|
3.576 |
|
Paid by cash |
0.005 |
|
|
Accident policy paid by cash |
0.028 |
|
|
Mediclaim withdrawal |
0.034 |
|
|
S. Viraj Diamond s.a. Tax FY 2011-12 |
0.497 |
|
|
S. Viraj Diamond p. tax for FY2013-14 |
0.002 |
|
|
S. Viraj Diamond p. tax for FY2013-14 |
0.000 |
|
|
S. Viraj Diamond s.a. tax for FY 2012-13 |
0.061 |
|
|
Viraj Jewels Income Tax |
0.004 |
|
|
Aviva life insurance |
0.100 |
|
|
LIC premium |
0.362 |
|
|
Loss from S. Viraj Diam |
0.244 |
|
|
Loss Transfer from S Viraj Diam |
|
0.750 |
|
Balance C/F |
2.989 |
|
|
Total |
4.326 |
4.326 |
BALANCE
SHEET
(RS. IN MILLION)
|
OWNERS FUND |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
1] Capital Account |
2.989 |
3.576 |
3.238 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.989 |
3.576 |
3.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.742 |
1.206 |
1.206 |
|
|
TOTAL
BORROWING |
0.742 |
1.206 |
1.206 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.731 |
4.782 |
4.444 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.790 |
0.790 |
0.790 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.415 |
0.415 |
0.415 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.248 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.034 |
0.030 |
0.106 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
2.816 |
3.671 |
3.514 |
|
Total Current Assets |
3.098 |
3.701 |
3.620 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.004 |
0.124 |
0.381 |
|
|
Other Current Liabilities |
0.568 |
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities |
0.572 |
0.124 |
0.381 |
|
|
Net Current
Assets |
2.526 |
3.577 |
3.239 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.731 |
4.782 |
4.444 |
|
PROFIT
AND LOSS ACCOUNT
(RS. IN MILLION)
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.752 |
0.703 |
2.275 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
0.752 |
0.703 |
2.275 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
|
|
|
Bank Charges |
0.001 |
0.005 |
0.003 |
|
|
Interest of From S Viraj
Diam |
0.001 |
0.000 |
0.000 |
|
|
Sarafi Interest |
0.000 |
0.000 |
0.059 |
|
|
Insurance |
0.000 |
0.001 |
0.000 |
|
|
TOTAL |
0.002 |
0.006 |
0.062 |
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
0.750 |
0.697 |
2.213 |
-----------------------------------------------------------------------------------------------------------------------------
MRS. ANJANABEN RAMESHBHAI
SHAH
CAPITAL
ACCOUNT AS ON 31.03.2014
(RS. IN MILLION)
|
Particulars |
Debit Amount |
Credit Amount |
|
Balance B/F |
|
7.249 |
|
Bajaj Allianz |
0.008 |
|
|
S. Viraj Diamond p. tax for FY2013-14 |
0.003 |
|
|
S. Viraj Diamond p. tax for FY2013-14 - late fee |
0.000 |
|
|
S. Viraj Diamond p. tax for FY 2012-13 - late fee |
0.001 |
|
|
S. Viraj Diamond p. tax for FY 2012-13 |
0.003 |
|
|
Income tax FY 2012-13 |
0.009 |
|
|
Viraj Jewwls
- Income tax |
0.002 |
|
|
LIC premium |
0.019 |
|
|
Withdrawal |
0.020 |
|
|
TDS |
0.006 |
|
|
Loss from S. Viraj Diam |
0.244 |
|
|
Loss Transfer from S Viraj Diam |
0 |
0.457 |
|
Balance C/F |
7.391 |
|
|
Total |
7.706 |
7.706 |
BALANCE
SHEET
(RS. IN MILLION)
|
OWNERS FUND |
|
31.03.2014 |
31.03.2013 |
|
|
1] Capital Account |
|
7.391 |
7.249 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
7.391 |
7.249 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.027 |
0.131 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
|
0.027 |
0.131 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
7.418 |
7.380 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.720 |
3.669 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.277 |
0.277 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.021 |
0.024 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
3.597 |
3.743 |
|
Total Current Assets |
|
3.618 |
3.767 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.197 |
0.333 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities |
|
0.197 |
0.333 |
|
|
Net Current Assets |
|
3.421 |
3.434 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
7.418 |
7.380 |
|
PROFIT
AND LOSS ACCOUNT
(RS. IN MILLION)
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
0.467 |
0.465 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
TOTAL |
|
0.467 |
0.465 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Bank Charges |
|
0.001 |
0.000 |
|
|
Interest Expenses |
|
0.009 |
0.019 |
|
|
TOTAL ( |
|
0.010 |
0.019 |
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
|
0.457 |
0.446 |
-----------------------------------------------------------------------------------------------------------------------------
MRS. RIDDHI ASIMBHAI SHAH
CAPITAL
ACCOUNT AS ON 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs.7.510 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.7.510 Million |
BALANCE
SHEET
(RS. IN MILLION)
|
OWNERS FUND |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
1 Capital Account |
7.510 |
7.581 |
7.581 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] Excess of Income over expenditure |
3.051 |
2.712 |
1.886 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10.561 |
10.293 |
9.467 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.087 |
|
|
2] Unsecured Loans |
1.005 |
0.950 |
0.850 |
|
|
TOTAL
BORROWING |
1.005 |
0.950 |
0.937 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
DIFF. IN OPENING BALANCE |
0.095 |
0.095 |
0.095 |
|
|
|
|
|
|
|
|
TOTAL |
11.661 |
11.338 |
10.499 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.312 |
2.312 |
2.312 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.465 |
5.318 |
5.006 |
|
|
INVESTMENT IN PARTNERSHIP FIRM |
1.322 |
1.523 |
1.464 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.022 |
0.022 |
|
|
Cash & Bank Balances |
0.241 |
0.296 |
1.635 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
2.321 |
1.867 |
0.060 |
|
Total Current Assets |
2.562 |
2.185 |
1.717 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Net Current
Assets |
2.562 |
2.185 |
1.717 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.661 |
11.338 |
10.499 |
|
PROFIT
AND LOSS ACCOUNT
(RS. IN MILLION)
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.282 |
0.447 |
0.423 |
|
|
Other Income |
0.301 |
0.465 |
1.077 |
|
|
TOTAL |
0.583 |
0.912 |
1.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Interest on TDS payable |
0.000 |
0.000 |
0.000 |
|
|
Loss booked from
partnership firm |
0.244 |
0.000 |
0.000 |
|
|
Audit Fees |
0.000 |
0.009 |
0.000 |
|
|
Bank Charges |
0.000 |
0.000 |
0.000 |
|
|
Interest on Car Loan |
0.000 |
0.004 |
0.000 |
|
|
Mediclaim |
0.000 |
0.004 |
0.000 |
|
|
Personal Accident
Insurance |
0.000 |
0.000 |
0.000 |
|
|
Personal Expenses |
0.000 |
0.067 |
0.000 |
|
|
VAT Tax |
0.000 |
0.001 |
0.000 |
|
|
TOTAL |
0.244 |
0.085 |
0.000 |
|
|
|
|
|
|
|
EXCESS OF INCOME OVER
EXPENDITURE |
0.339 |
0.827 |
1.500 |
-----------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENT
(RS.
IN MILLION)
|
SR. NO. |
PARTICULARS |
|
31.03.2016 |
31.03.2017 |
|
1 |
Domestic Sales |
|
10.000 |
15.000 |
|
2 |
Export Sales |
|
110.000 |
125.000 |
|
|
|
|
|
|
|
|
Total |
|
120.000 |
140.000 |
|
|
Less: Excise Duty |
|
0.000 |
0.000 |
|
|
Net Sales (1-2) |
|
120.000 |
120.000 |
|
|
|
|
|
|
|
|
%Rise As Compared To Previous Year |
|
125.48% |
116.67% |
|
|
|
|
|
|
|
2 |
Cost of Sales |
|
|
|
|
a |
Raw Materials (Including Stores and Other Items Used In Process of Manufacturer) Imported (Purchases). |
|
|
|
|
|
Opening Stock Of Rough Diamonds |
|
0.000 |
0.000 |
|
|
Add: Purchases – Import/Local |
|
0.000 |
0.000 |
|
|
Less: Closing Stock Of Rough Diamonds |
|
0.000 |
0.000 |
|
|
Stores/Consumables |
|
0.000 |
0.000 |
|
|
Cost of Production |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
3 |
Direct Labour |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
4 |
Other Manufacturing Expenses |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
5 |
Depreciation |
|
0.100 |
0.090 |
|
|
|
|
|
|
|
|
Sub Total (1 To 6) |
|
0.100 |
0.090 |
|
|
|
|
|
|
|
|
Cost of Production |
|
0.100 |
0.090 |
|
|
|
|
|
|
|
|
Add: Opening Stock of Polished Diamonds |
|
0.740 |
5.000 |
|
|
Add: Purchases Polished Diamonds |
|
115.301 |
130.000 |
|
|
Sub Total |
|
116.141 |
135.090 |
|
|
|
|
|
|
|
|
Less: Closing Stock of Polished Diamonds |
|
5.000 |
6.000 |
|
|
Sub Total (Cost Of
Sales) |
|
111.141 |
129.090 |
|
|
|
|
|
|
|
6 |
Selling General And Administration Expenses |
|
2.500 |
2.800 |
|
|
|
|
|
|
|
7 |
Sub Total (5+6) |
|
113.641 |
131.890 |
|
|
|
|
|
|
|
8 |
Operating Profit (Before Interest) (3-7) |
|
6.359 |
8.110 |
|
|
|
|
|
|
|
9 |
Interest |
|
1.200 |
2.000 |
|
|
|
|
|
|
|
10 |
Operating Profit After Interest (8-9) |
|
5.159 |
6.110 |
|
|
|
|
|
|
|
11 |
|
|
|
|
|
1 |
Add: Interest on Fixed Deposit Sub Total (Income) |
|
0.000 |
0.000 |
|
2 |
Less: Remuneration To Partners |
|
0.600 |
0.600 |
|
|
Sub Total
(Expenses) |
|
0.000 |
0.000 |
|
3 |
No of Other Income /Expenses (Net of II(1) II(2) |
|
(0.600) |
(0.600) |
|
|
|
|
|
|
|
12 |
Profit Before Tax (10+11(3) |
|
4.559 |
5.510 |
|
|
|
|
|
|
|
13 |
Income Tax |
|
1.000 |
1.500 |
|
|
|
|
|
|
|
14 |
Net Profit (12-13) |
|
3.559 |
4.010 |
|
|
|
|
|
|
|
15 |
Capital Introduced |
|
6.661 |
0.000 |
|
|
Less: Drawing |
|
0.000 |
0.510 |
|
|
|
|
|
|
|
16 |
Total Capital Retained |
|
10.220 |
3.500 |
|
|
|
|
|
|
|
17 |
Retained Profit / Net Profit |
|
287.16% |
87.28% |
|
|
|
|
|
|
-----------------------------------------------------------------------------------------------------------------------------
STATEMENT OF BALANCE SHEET
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
|
31.03.2016 |
31.03.2017 |
|
|
Current Liabilities |
|
|
|
|
1 |
Short Term Borrowing From Bank (Including Bills Purchased and Discounted And The Excess Borrowings) |
|
|
|
|
1 |
From Application Bank |
|
18.000 |
18.000 |
|
2 |
From Other Bank |
|
0.000 |
0.000 |
|
3 |
(Of Which Bp&Bd) |
|
|
|
|
|
|
|
|
|
|
|
Sub Total (A) |
|
18.000 |
18.000 |
|
2 |
Short Term Borrowing |
|
|
|
|
|
|
|
|
|
|
3 |
Sundry Creditors (Trade) |
|
8.000 |
10.000 |
|
3A |
Days Purchase |
|
25 |
28 |
|
|
|
|
|
|
|
4 |
Advances Payments From Customer/Deposits |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
5 |
Provision For Duties / Taxation |
|
1.000 |
1.500 |
|
|
|
|
|
|
|
6 |
Dividend Payable |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
7 |
Other Statutory Liabilities Due With One Year |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
8 |
Deposits/ Instalments of Loan/ DPGS /Debenture |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
9 |
Other Current Liabilities |
|
0.400 |
0.500 |
|
|
|
|
|
|
|
|
Sub Total |
|
9.400 |
12.000 |
|
|
|
|
|
|
|
10 |
Total Current Liabilities Provisions |
|
27.400 |
30.000 |
|
|
|
|
|
|
|
11 |
Term Liabilities Debenture (Excluding Not Matured) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
12 |
Preferences Share Excluding Redeemable |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
13 |
Term Loans (Ex Instalments Payable Within Year) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
14 |
Deferred Payment Credits (Excluding Instalment Payable Within Year) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
15 |
Term Deposit Excluding Payable Within Year) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
16 |
Other Term Liabilities |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
17 |
Total Term Liabilities (11 To 16) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
18 |
Total Outside Liabilities (10+17) |
|
27.400 |
30.000 |
|
|
Net Worth |
|
|
|
|
|
|
|
|
|
|
19 |
Oridnary Share Capital |
|
11.500 |
15.000 |
|
20 |
Gengeral Reserves |
|
0.000 |
0.000 |
|
21 |
Quasi Equity |
|
0.000 |
0.000 |
|
22 |
Bal.Inp&L Account |
|
0.000 |
0.000 |
|
23 |
Surplus/Deficit In Profit And Loss Account |
|
0.000 |
0.000 |
|
24 |
Net Worth |
|
11.500 |
15.000 |
|
25 |
TOTAL LIABILITIES |
|
38.900 |
45.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
26 |
Cash And Bank Balances |
|
1.173 |
1.363 |
|
|
|
|
|
|
|
27 |
Investments (Other Than Long Term Investments) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
1 |
Fixed Deposits With Banks |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
28 |
|
|
|
|
|
1 |
Receivable Other Than Export – Local Receivables (Including Bills Purchase/Discounting Bank) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
2 |
Export Receivable |
|
31.000 |
36.000 |
|
|
Including Bills Purchase/Discounting Bank (Days) |
|
101 |
104 |
|
|
|
|
|
|
|
29 |
Deposits / Vat Refund |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
30 |
Inventory |
|
5.000 |
6.000 |
|
|
(Day’s Cost Of Production) |
|
15 |
16 |
|
|
|
|
|
|
|
|
Raw Materials (Incluseing Store) |
|
|
|
|
a |
Imported – Rough Diamonds |
|
0.000 |
0.000 |
|
b |
Local |
|
0 |
0 |
|
|
(Day’s Cost of Production) |
|
0 |
0 |
|
ii) |
Stores And Consumables |
|
0.000 |
0.000 |
|
|
(Day’s Cost of Production) |
|
0 |
0 |
|
iii) |
Polished Diamonds |
|
5.000 |
6.000 |
|
|
(Day’s Cost of Production) |
|
15 |
16 |
|
iv) |
Other Consumables and Spares |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
a) |
Imported |
|
0.000 |
0.000 |
|
b) |
Local |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
31 |
Advances To Suppliers/ Raw Materials And Spares Parts |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
32 |
Advances Payment Taxes |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
33 |
Other Current Assets |
|
1.000 |
1.000 |
|
|
|
|
|
|
|
34 |
Total Current Assets Total Of 26 To 33 |
|
38.173 |
44.363 |
|
|
|
|
|
|
|
35 |
Gross Block (Land And Building Machinery Work In Process) |
|
0.827 |
0.727 |
|
|
|
|
|
|
|
36 |
Deprecation To Date |
|
0.100 |
0.090 |
|
|
Addition During Year |
|
0 |
0 |
|
|
|
|
|
|
|
37 |
Net Block (35-36) |
|
0.727 |
0.637 |
|
|
|
|
|
|
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
38 |
Investments / Book Debits Advances / Deposits Which Are Not Current Assets |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
1 |
Investments In Subsidiary Companies / Affiliated |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
2 |
Others (Debtors More Than 6 Months) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
II |
Advances To Suppliers of Capital Good and Cont |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
III |
Deferred Receivables (Maturity Exceeding 1 Year) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Others |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
39 |
Long Term Advances |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
40 |
Other Non Current Assets Including Dues From Directors |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
41 |
Total Other Non Current Assets (Total 38 To 40) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
42 |
Intangible Assets Patents Goodwill, Preliminary Expenses/ Bad/ Doubtful Debts Not Provided |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
43 |
TOTAL ASSETS [TOTAL
34,37,41 &42] |
|
38.900 |
45.000 |
|
|
|
|
|
|
|
44 |
Tangible Net Worth (24-42) |
|
11.500 |
15.000 |
|
|
|
|
|
|
|
45 |
Net Worthing Capital To Tally With (34/10) |
|
10.773 |
14.363 |
|
|
|
|
|
|
|
46 |
Current Ratio (34/10) |
|
0.139 |
0.148 |
|
|
|
|
|
|
|
47 |
Total Outside Liabilties Tangible Net Worth (18/44) |
|
0.238 |
0.200 |
|
|
TTL/TNW |
|
0 |
0 |
|
|
Additional Information |
|
|
|
|
A |
Arrears Of Deprecation |
|
-- |
-- |
|
B |
Contingent Liabilities |
|
-- |
-- |
-----------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
|
31.03.2016 |
31.03.2017 |
|
|
CURRENT ASSETS |
|
|
|
|
1 |
Raw material
(including stores and other items used in the process of MFG) |
|
|
|
|
|
Imported month consumption |
|
0.000 |
0.000 |
|
|
Indigenous month consumption |
|
0.000 |
0.000 |
|
2 |
Other consumable spares excluding those including 1 above |
|
|
|
|
|
Rough diamond day consumption |
|
0.000 |
0.000 |
|
|
Indigenous |
|
0.000 |
0.000 |
|
|
Day consumption |
|
0 |
0 |
|
3 |
Stock in process |
|
|
|
|
|
Day consumption |
|
|
|
|
4 |
Polished diamonds |
|
5.000 |
6.000 |
|
|
Day consumption |
|
15 |
16 |
|
5 |
Receivable other than export and deferred receivable (including Bills pur and discounted by bankers) days domestic sale excluding deferred sales |
|
0.000 |
0.000 |
|
6 |
Export receivables including bills purchase |
|
31.000 |
36.000 |
|
|
Discounted by bankers months export sales |
|
101 |
104 |
|
7 |
Advances to suppliers of raw materials and stores/spares consumables |
|
0.000 |
0.000 |
|
8 |
Other current assets including cash and bank balance and deferred receivable due within one year (specify major items) |
|
2.173 |
2.363 |
|
9 |
Total current assets to Agree with items 34 in form III, |
|
38.173 |
44.363 |
|
|
|
|
|
|
|
|
Current liabilities
other than bank borrowing for working capital |
|
|
|
|
|
|
|
|
|
|
10 |
Creditors for purchase of raw materials stores and consumable |
|
8.000 |
10.000 |
|
|
Days purchase |
|
25 |
28 |
|
11 |
Advances from customers |
|
0.000 |
0.000 |
|
12 |
Statutory liabilities |
|
0.000 |
0.000 |
|
13 |
Other current liabilities (specify major items) |
|
1.400 |
2.000 |
|
|
Short term borrowings provision for taxation divided payable accrued expenses deposits / installment of term loans DPGS/ debenture etc (due within one year) misc. current liabilities |
|
|
|
|
|
|
|
|
|
|
|
Total to agree with sub total B in Form III |
|
9.400 |
12.000 |
|
|
|
|
|
|
-----------------------------------------------------------------------------------------------------------------------------
METHOD OF LENDING
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
|
31.03.2016 |
31.03.2017 |
|
1 |
Total current assets (9 in Form IV) |
|
38.173 |
44.363 |
|
|
|
|
|
|
|
2 |
Other current liabilities other than bank borrowings |
|
9.400 |
12.000 |
|
|
|
|
|
|
|
3 |
Working capital |
|
28.773 |
32.363 |
|
|
|
|
|
|
|
4 |
Minimum stipulated net working capital i.e.25% of WCS/25% of Total current assets as the case may be depending upon method of lending being applied (export receivable to be excluding under both methods) |
|
7.193 |
8.091 |
|
|
|
|
|
|
|
5 |
Actuals / projected net working capital (45 In Form III) |
|
10.773 |
14.363 |
|
|
|
|
|
|
|
6 |
Items 3 minus items 4 |
|
21.580 |
24.272 |
|
|
|
|
|
|
|
7 |
Items 3 minus items 5 |
|
18.000 |
18.000 |
|
|
|
|
|
|
|
8 |
Maximum permissible bank finance (items 6 or 7 which is lower) |
|
18.000 |
18.000 |
|
|
|
|
|
|
|
9 |
Excess borrowings |
|
0.000 |
0.000 |
-----------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
Refre.01/MAG15-090/PRC/G Date: 10.08.2015
Subject: valuation market value of property for mortgage loan proposal.
|
Client Name |
Mr. Vikram Rameshbhai Shah |
|
Description of the
property |
Flat No.502, Fifth Floor, Yashodhan Building, Plot No.230 of Town Planning Scheme No.11, C.T.S. No.132, 1332/1 to 4 of Village, Vile Parle, Opposite Dena Bank and Near Shivsagar Restaurant, Nehru Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Fair market value
of the property as on date |
Rs.18.000 Million |
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COMPANY
PROFILE
PROFILE OF S.VIRAJ DlAM AND ITS
PARTNERS
S Viraj Diam is
a Registered Partnership firm involved in trading of diamonds established in
2011. The Registered Office of the firm is at DW-2300, Bharat Diamond Bourse
(BDB), BKC, Bandra (east), Mumbai - 400051 which is the diamond hub in the
city.
The firm
majorly procure cut and polish diamonds from local market at Mumbai as well as
from Surat and export the same to the customers. The firm is doing purely
trading business by purchasing diamonds as per the demand and order of overseas
customers. The firm is mainly dealing in fancy cut diamonds of all size ranging
from 0.01 carat to 3.00 carat. Their main port of export is Hongkong.
The partners
being in the business successfully for 5 years are well versed with the nuances
of the industry and select their customers through process of careful due
diligence thus mitigating counter-party risk.
The partners of the Firm and their
shares of profit / loss are under:
|
Name of Partner |
Share of profit / loss (%) |
|
Mr. Asimbhai
Rameshbhai Shah |
33.34 |
|
Mrs.
Anjanaben Rameshbhai Shah |
33.33 |
|
Mrs. Ridhi
Asimbhai Shah |
33.33 |
|
Total |
100.00 |
The Trading process briefly is as
under:
POLISH ASSORTMENT: Check the polished stone and to determine
its properties such as purity, colour, size etc ... i.e. 4 'c's viz. Colour,
clarity, carat and cut.
PLANNING AND MARKETING: From Which other company goods can be
procured at cheaper rate with better 4 'C' S. Partner personally visit the
selling parties to get best diamonds and largely procure diamonds which are
Certified.
CERTIFICATION: Though party purchasing certified stones, but in case stone is required to be recertified then the same is get done through some other, agencies before exporting to customer. Thus their customers gets double surety of the goods.
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BRIEF PROFILE OF PARTNERS
MR. ASIMBHAI RAMESHBHAI SHAH: Mr. Asim Shah a B.B.A graduate is one
of the core key personnel of the firm. During journey in the diamond industry,
he has developed acquaintances with large number of Customers and has built a
very good reputation in the market. He is looking after the financial and
marketing department of the firm. With such a large experience in the line,
helps the firm in achieving the target and meet the firm's commitments. He is
taking care of purchases and sales of diamonds.
MRS. RIDDHI ASIMBHAI SHAH: Mrs. Riddhi Shah a M.B.A (Marketing)
graduate is also one of the core key personnel of the firm and she helps the
firm in selecting' the diamonds as per the requirement of the customers. She is
looking after Export, Account and Administration department.
MRS. ANAJANABEN RAMESHBHAI SHAH: Mrs. Anjanaben Shah a S.S.C qualified
is a silent partner in the company and guide the other partners as and when
required.
Presently, they are baking with
following banks:
|
Name and Branch of Bank |
Type of Account |
Account Number |
|
Axis Bank Limited |
Current Account |
913020040392328 |
|
Kotak Mahindra Bank Limited |
Current Account |
9911540018 |
|
Saraswat Co-Operative Bank Limited |
Current Account |
418100100000109 |
|
Corporation Bank |
Current Account |
01000105 |
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FIXED ASSETS
- Air conditioner
- CCTV Camera and DVR Set
- Computer and Software
- Furniture and Fixture
- HP Printer (1020 LaserJet)
- Mettle (JL603C)
- Mobile
- Security monitoring system
- Water dispenser with refrigerator
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 records 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.65.83 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
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 |
|
28 |
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.