MIRA INFORM REPORT

 

 

Report No. :

312182

Report Date :

19.03.2015 

 

IDENTIFICATION DETAILS

 

Name :

DIAMOND TRADEX COMPANY LIMITED

 

 

Registered Office :

2656, First Floor, Ajmal Khan Road, Karol Bagh, New Delhi – 110 005

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.02.2006

 

 

Com. Reg. No.:

55-146900

 

 

Capital Investment / Paid-up Capital :

Rs.9.140 million

 

 

CIN No.:

[Company Identification No.]

U51909DL2006PLC146900

 

 

IEC No.:

Not Available

 

 

TIN No.:

07310308034

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCD3460E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing and trading of Diamond and Jewellery.

 

 

No. of Employees :

29 (Approximately)  

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 158000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Profit margin of the company is low. However, networth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealing.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

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 (GENERAL DETAILS)

 

Name :

Mr. Rajiv Mishra

Designation :

Accountant

Contact No.:

91-11-45678333

Date :

18.03.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

2656, First Floor, Ajmal Khan Road, Karol Bagh, New Delhi – 110 005, India

Tel. No. :

91-11-45678333/ 45678338/ 25801011/ 41548601/ 41544339

Mobile No. :

91-9312218096 (Mr. Vinod Patel)

Fax No. :

91-11-41544338

E-Mail :

dtccompanylimited@yahoo.com

dtc999@in.com

dtcdiamonds@yahoo.in

trupati2004@gmail.com

 

 

Head Office :

2885, 2nd Floor, Hardhyan Singh Road, Karol Bagh, Delhi – 110 005, India  

 

 

Branch Office :

Located at:

 

·         Pithampura, Delhi

·         Greater Kailash, Delhi

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Vinod Karsanbhai Patel

Designation :

Director

Address :

208/2885, Hardyan Singh Road, Karol Bagh, New Delhi – 110 005, India

Date of Birth/Age :

01.08.1975

Date of Appointment :

28.02.2006

DIN No. :

00898201

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

U36911DL2006PTC146010

GYANJEEVAN GEMS COMPANY PRIVATE LIMITED

Director

27/11/2010

07/02/2006

-

Active

NO

2

U51909DL2006PLC146900

DIAMOND TRADEX COMPANY LIMITED

Director

28/02/2006

28/02/2006

-

Active

NO

3

U36910DL2009PTC196329

AKSHARDHAM JEWELLERS PRIVATE LIMITED

Director

16/02/2010

16/02/2010

01/09/2010

Active

NO

4

U70109DL2010PTC201237

AKSHARDHAM ESTATES PRIVATE LIMITED

Director

07/04/2010

07/04/2010

-

Active

NO

5

U51909DL2008PTC175430

DELICIOUS COCO WATER PRIVATE LIMITED

Director

29/09/2012

25/08/2012

12/10/2012

Active

NO

 

 

Name :

Mr. Mahendra Patel

Designation :

Director

Address :

208/2885, Hardyan Singh Road, Karol Bagh, New Delhi – 110 005, India

Date of Birth/Age :

03.04.1986

Date of Appointment :

19.09.2006

DIN No. :

00898438

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

U51909DL2006PLC146900

DIAMOND TRADEX COMPANY LIMITED

Director

19/09/2006

19/09/2006

-

Active

NO

2

U36910DL2009PTC196329

AKSHARDHAM JEWELLERS PRIVATE LIMITED

Director

17/08/2011

16/02/2010

-

Active

NO

 

 

Name :

Ms. Bhawna Patel

Designation :

Additional Director

Address :

House No.8A/8, IInd Floor, Karol Bagh, New Delhi – 110 005, India

Date of Birth/Age :

09.07.1979

Date of Appointment :

30.09.2014

DIN No. :

02371003

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

U55101DL2008PTC185970

FOUR SEASONS MOTELS PRIVATE LIMITED

Director

18/12/2008

18/12/2008

26/08/2010

Active

NO

2

U36910DL2009PTC196329

AKSHARDHAM JEWELLERS PRIVATE LIMITED

Director

16/02/2010

24/11/2009

-

Active

NO

3

U70101DL2010PTC203050

SWAMI NARAYAN ESTATES PRIVATE LIMITED

Director

24/05/2010

24/05/2010

-

Active

NO

4

U51909DL2006PLC146900

DIAMOND TRADEX COMPANY LIMITED

Director

30/09/2014

18/04/2014

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Rajiv Mishra

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Vinod K. Patel

 

166000

Pratap K. Patel

 

162000

Bhawana V. Patel

 

4000

Rajesh K. Patel

 

154000

Mahendra Patel

 

162000

Chetna Patel

 

4000

Karsanbhai Patel

 

8000

Om Dutt

 

4000

Alishan Complex Private Limited, India

 

40000

Balram Tie-up Private Limited, India

 

30000

Lambodar Machine Tools Private Limited, India

 

30000

Cornelius Marketing and Research (Private) Limited, India

 

50000

Mithilianchal Investment and Finance (Private) Limited, India

 

50000

Rising Portfolio India Private Limited, India

 

50000

Total

 

914000

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

27.35

Directors or relatives of Directors

72.21

Other top fifty shareholders

0.44

Total

100.00

 

                 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing and trading of Diamond and Jewellery.

 

 

Products :
  • Designer diamond rings
  • Solitaire diamond rings
  • Diamond bangles
  • Real diamond rings
  • Diamond bracelets
  • Aesthetic diamond necklace

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit 

 

 

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

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

29 (Approximately)  

 

 

Bankers :

Banker Name

Central Bank of India

Branch Address

Delhi, 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)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

·         Canara Bank, F-19, Connoaught Circus, New Delhi – 110 001, India

·         ICICI Bank Limited

·         Karnataka Bank Limited

·         Bank of India, Arya Samaj Road, Karol Bagh, New Delhi – 110 005, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Term Loans (Car Loan)

(Terms loan from ICICI Bank are secured by way of first exclusive charge on hypothecation of Car Repayable in 36 equal monthly instalements including interest)

1.627

0.000

SHORT TERM BORROWINGS

 

 

Car Loan

(Loan from ICICI Bank are secured by way of first exclusive charge on hypothecation of Car)

1.265

0.054

Cash Credit - From Bank

(Loan from Karnataka Bank Limited are secured by way of primarily secured by hypothecation of stock and book debts and collateral security of properties of director.)

70.116

71.614

Total

73.008

71.668

 

Banking Relations :

--

 

 

Auditors :

 

Name :

R.G. Agarwal and Associates

Chartered Accountants

Address :

706, 7th Floor, “Laxmi Deep” Building, District Centre, Laxmi Nagar, Delhi – 110 092, India

Tel. No. :

91-43045210

Mobile No. :

91-9810083307, 9811520382

Website :

www.carbrg.com

PAN No.:

AAAPA3875B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :
  • Apple Gems International
  • Akshardham Jewellers Private Limited
  • Gyanjeevan Gems Company Private Limited
  • Akshardham Estates Private Limited
  • Delicious Coco Water Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

5000000

Equity Shares

Rs.10/- each

Rs.50.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

914000

Equity Shares

Rs.10/- each

Rs.9.140 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

9.140

9.140

9.140

(b) Reserves & Surplus

46.178

41.012

35.272

(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)

55.318

50.152

44.412

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1.627

0.000

0.054

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

1.627

0.000

0.054

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

73.236

73.002

79.981

(b) Trade payables

209.258

110.713

57.926

(c) Other current liabilities

7.169

15.649

37.439

(d) Short-term provisions

1.842

2.540

2.596

Total Current Liabilities (4)

291.505

201.904

177.942

 

 

 

 

TOTAL

348.450

252.056

222.408

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4.615

0.787

0.928

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

9.398

9.398

9.398

(c) Deferred tax assets (net)

0.288

0.204

0.166

(d)  Long-term Loan and Advances

14.043

10.217

12.321

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

28.344

20.606

22.813

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

258.730

206.335

183.831

(c) Trade receivables

55.962

14.859

6.548

(d) Cash and cash equivalents

2.197

5.018

2.483

(e) Short-term loans and advances

1.121

0.000

1.672

(f) Other current assets

2.096

5.238

5.061

Total Current Assets

320.106

231.450

199.595

 

 

 

 

TOTAL

348.450

252.056

222.408

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

765.637

649.268

592.431

 

 

Other Income

0.355

0.394

0.399

 

 

TOTAL                                    

765.992

649.662

592.830

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Material consumed

159.412

66.332

38.708

 

 

Purchases of Stock-in-Trade

611.548

565.291

534.267

 

 

Changes in Inventories of Finished goods and Stock in Trade & Raw material

(52.395)

(22.505)

(13.252)

 

 

Employee benefits Expenses

5.247

3.936

3.127

 

 

Other Expenses

20.700

16.380

11.048

 

 

TOTAL                                    

744.512

629.434

573.898

 

 

 

 

 

 

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

21.480

20.228

18.932

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

12.423

11.777

11.274

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

9.057

8.451

7.658

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

1.153

0.198

0.237

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

7.904

8.253

7.421

 

 

 

 

 

Less

TAX                                                                 

2.739

2.513

2.515

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

5.165

5.740

4.906

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

18.512

12.772

7.866

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

23.677

18.512

12.772

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

 

- Basic

5.65

6.28

5.37

 

- Diluted

5.65

6.28

5.86

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.67

0.88

0.83

 

 

 

 

 

Operating Profit Margin

(PBDIT/ Sales)

(%)

2.81

3.12

3.20

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.33

3.40

3.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.16

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.35

1.46

1.80

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.10

1.15

1.12

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Share Capital

9.140

9.140

9.140

Reserves & Surplus

35.272

41.012

46.178

Net worth

44.412

50.152

55.318

 

 

 

 

Long Term borrowings

0.054

0.000

1.627

Short Term borrowings

79.981

73.002

73.236

Total borrowings

80.035

73.002

74.863

Debt/Equity ratio

1.802

1.456

1.353

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Revenue from Operations

592.431

649.268

765.637

 

 

9.594

17.923

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Revenue from Operations

592.431

649.268

765.637

Profit

4.906

5.740

5.165

 

0.83%

0.88%

0.67%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

-----

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

No

21]

Market information

-----

22]

Litigations that the firm / promoter involved in

-----

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

-----

26]

Buyer visit details

-----

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

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.

 

 

NOTE:

 

The registered address of the company has been shifted from 2885, IInd Floor, H.S. Road, Karol Bagh, New Delhi to the present address w.e.f. 03.06.2009.

 

 

OPERATIONS:

 

During the year the company has earned profit and it is expanding its business. The Company is making efforts to explore the business opportunities and the management is hopeful that during current financial year the company will have better results.

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

From Directors

0.247

0.226

From Others

1.608

1.108

Total

1.855

1.334

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10537919

16/10/2014

49,500,000.00

CANARA BANK

F-19, CONNOAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA

C37630019

2

10247844

24/09/2012 *

70,000,000.00

KARNATAKA BANK LIMITED

KAROL BAGH BRANCH, NEW DELHI, DELHI - 110005, INDIA

B58645508

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Land and Building

·         Plant and Machinery

·         Air Conditioner

·         Inverter and Battery

·         Safe

·         Office Equipment

·         Furniture and Fixtures

·         Vehicle

·         Computer and Printers

 

 

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.62.67

UK Pound

1

Rs.92.46

Euro

1

Rs.66.34                                               

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

-- PROFITABILITY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

42

 

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.