MIRA INFORM REPORT
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Report No. : |
305201 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
STYLE QUOTIENT JEWELLERY PRIVATE LIMITED |
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Registered
Office : |
694, Narayan Peth, Laxmi Road, Pune - 411030, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
Not Applicable |
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Date of
Incorporation : |
14.06.2014 |
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Com. Reg. No.: |
11-151454 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U36910PN2014PTC151454 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES42356G |
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PAN No.: [Permanent Account No.] |
AAUCS6492B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of silver Jewellery. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company incorporated during 14.06.2014 and
establishing itself gradually. Mr. Nitin Gokhale (Accountant) has provided us with all information.
Further, he also claimed that the company has started its business activity
since its incorporation. Business is active as per the status shown in the registrar of companies.
Payment terms are reported to be unknown. The company can be considered for business dealings on a safe and
secured 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.
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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
31-03-2014.
INFORMATION PARTED BY
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Name : |
Mr. Nitin Gokhale |
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Designation : |
Accountant |
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Contact No.: |
91-8308959400 |
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Date : |
24.01.2015 |
LOCATIONS
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Registered Office : |
694, Narayan Peth, Laxmi Road, Pune - 411030, Maharashtra, India |
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Tel. No.: |
91-20-24435007 |
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Mobile No.: |
91-8308959400 (Mr. Nitin Gokhale) |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Prasad Bindumadhav Kapre |
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Designation : |
Whole-time director |
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Address : |
Flat No.22, Takshila. 23A, Mahakali Caves Road, Andheri – East, Mumbai
– 400093, Maharashtra, India |
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Date of Birth/Age : |
28.08.1962 |
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Date of Appointment : |
14.07.2014 |
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DIN No.: |
03095064 |
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Name : |
Mr. Saurabh Vidyadhar Gadgil |
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Designation : |
Director |
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Address : |
2131, Kaustubh Vijayanagar, Sadashiv Peth, Pune – 411030, Maharashtra,
India |
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Date of Birth/Age : |
09.05.1977 |
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Date of Appointment : |
14.06.2014 |
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DIN No.: |
00616563 |
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PAN No.: |
AFFPG6694G |
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Name : |
Mr. Parag Yashwant Gadgil |
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Designation : |
Director |
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Address : |
4, Sarthak Apartment, 1901, Sadashiv Peth, Natubag, Bajirao Road, Pune
– 411030, Maharashtra, India |
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Date of Birth/Age : |
28.07.1959 |
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Date of Appointment : |
28.10.2013 |
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DIN No.: |
01536943 |
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PAN No.: |
ACWPG2456J |
KEY EXECUTIVES
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Name : |
Mr. Nitin Gokhale |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.06.2014
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Names of Shareholders |
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No. of Shares |
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P N Gadgil Jewellers Private Limited, India |
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9990 |
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Saurabh Vidyadhar Gadgil |
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10 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Trader of silver Jewellery. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
25 (Approximately) |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
P N Gadgil Jewellers Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs.10/- each |
Rs. 0.200 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW BUSINESS
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
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Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
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1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
No |
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12] |
Profitability for last
three years |
No |
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13] |
Reasons for variation
<> 20% |
-- |
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14] |
Estimation for coming
financial year |
No |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister
concerns |
Yes |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details
(if applicable) |
No |
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21] |
Market information |
-- |
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22] |
Litigations that the firm
/ promoter involved in |
-- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
Yes |
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25] |
Conduct of the banking
account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if
applicable |
No |
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29] |
Last accounts filed at
ROC |
No |
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30] |
Major Shareholders, if
available |
Yes |
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31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
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32] |
PAN of
Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating,
if available |
No |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
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.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
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|
1 |
Rs.92.16 |
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Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
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Information
Gathered by : |
SVA |
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
KVT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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.