MIRA INFORM REPORT
|
Report No. : |
349536 |
|
Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
JEWELEX INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
JEWELEX BOMBAY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401-Trade Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400098, Maharashtra |
|
Tel. No.: |
91-22-43511000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.10.2004 |
|
|
|
|
Com. Reg. No.: |
11-148938 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2004PTC148938 |
|
|
|
|
IEC No.: |
0388005556 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMJ11921A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ4523H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Studded Gold Jewellery |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating takes into consideration healthy revenue growth along with
fair profitability of the company, its comfortable capital structure and
strong marketing network. The rating further gains from the experience of the promoters in the diamond
industry and DTC sight holder status. The ratings are however, constrained due to competitive nature of the
Indian G&J industry, susceptibility to volatile rough diamond prices and
the prevalent challenging in G&J markets. However, trade relations are reported as fair. Business is active.
Payment are reported to be regular and as per commitment. The company can be considered good for normal 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 – 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 |
CARE RATING |
|
Rating |
Short Term Bank Facilities = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
October 28, 2015 |
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
31-03-2015.
INFORMATION DENIED
Management non co-operative (Tel. No.: 91-22-43511000)
LOCATIONS
|
Registered Office : |
401-Trade Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400098, Maharashtra, India |
|
Tel. No.: |
91-22-43511000 |
|
Fax No.: |
91-22-43511099 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
HE-7010, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-43511000 |
|
Fax. No.: |
91-22-43511099 |
|
|
|
|
Head Office / Factory 1 : |
G-29, G and J Complex III, Seepz, Andheri (East), Mumbai – 400096,
Maharashtra, India |
|
Tel. No.: |
91-22-66938500 / 8501 / 8502/ 28290700/ 28291686/ 0699 |
|
Fax No.: |
91-22-28290460 |
|
E-Mail : |
|
|
|
|
|
Corporate Office 2 / Unit 2 : |
Jewelex India Private Limited Unit – II (Trading Division), Plot No.
56-B, Ground Floor, Seepz, Andheri (East), Mumbai – 400096, Maharashtra,
India |
|
Tel. No.: |
91-22-66938505/ 8510/ 28291686/ 28290699 |
|
Fax No.: |
91-22-66938506/ 28290460 |
|
E-Mail : |
|
|
|
|
|
Unit 3 : |
Unit III, G – 33, G and J Complex No. III, Seepz, Andheri (East),
Mumbai – 400096, Maharashtra, India |
|
Tel. No.: |
91-22-66938500/ 56938502 |
|
Fax No.: |
91-22-28290460 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located At :
|
DIRECTORS
AS ON 10.09.2014
|
Name : |
Mr. Anish Piyush
Kothari |
|
Designation : |
Director |
|
Address : |
102, Elcid, 13 –
A, |
|
Date of Birth/Age : |
19.11.1965 |
|
Date of Appointment : |
01.10.2004 |
|
PAN No.: |
AADPK4951D |
|
DIN No.: |
00093706 |
|
|
|
|
Name : |
Mr. Nilesh Pravin Kothari |
|
Designation : |
Director |
|
Address : |
111B, Atlas Apartments, |
|
Date of Birth/Age : |
11.02.1961 |
|
Date of Appointment : |
01.10.2004 |
|
PAN No.: |
AADPK4856H |
|
DIN No.: |
00093751 |
|
|
|
|
Name : |
Mr. Ashish Piyush
Kothari |
|
Designation : |
Director |
|
Address : |
705, Mangal Kunj – B, |
|
Date of Birth/Age : |
21.05.1973 |
|
Date of Appointment : |
10.05.2005 |
|
PAN No.: |
AADPK4857G |
|
DIN No.: |
00093839 |
KEY EXECUTIVES
|
Name : |
Mr. M B. Bhame |
|
Designation : |
Company secretary |
|
Date of Appointment : |
01.03.2014 |
MAJOR SHAREHOLDERS
AS ON 10.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Pravin S. Kothari |
|
862500 |
|
Saryu P Kothari |
|
7250000 |
|
Nilesh P Kothari |
|
5187500 |
|
Nisha N Kothari |
|
2425000 |
|
Manti N. Kothari |
|
250000 |
|
Mihika N. Kothari |
|
250000 |
|
Piyush S. Kothari |
|
1850000 |
|
Chandra P. Kothari |
|
6265000 |
|
Anish P. Kothari |
|
5690000 |
|
Gopika A. Kothari |
|
2425000 |
|
Atul S. Kothari |
|
12172500 |
|
Sahil Kothari |
|
4057500 |
|
DJ Finance Limited, Mauritius |
|
51315000 |
|
|
|
|
|
Total |
|
100000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
67.55 |
|
Directors or relatives of Directors |
32.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Studded Gold Jewellery |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
|||||||||||||||
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|
|||||||||||||||
|
Customers : |
Not Divulged
|
|||||||||||||||
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|||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
M. M. Nissim and
Company Chartered Accountants |
|
Address : |
Barodawala
Mansion, B – Wing, 3rd Floor, 81, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
PAN No.: |
AAAFM5103E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
D. J. Finance Limited, Mauritius |
|
|
|
|
Ultimate Holding Company: |
I.D.J. s.a.r.l., Luxembourg |
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Subsidiaries : |
(CIN No.:U99999MH2000PTC124713) |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 10.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105850000 |
Equity Shares |
Rs.10/- each |
Rs. 1058.500 Million |
|
1900000 |
Preference Shares |
Rs. 10/- each |
Rs. 19.000 Million |
|
|
Total |
|
Rs. 1077.500
Milion |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 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 |
1000.000 |
1000.000 |
1000.000 |
|
(b) Reserves & Surplus |
5291.299 |
4042.305 |
3459.763 |
|
(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) |
6291.299 |
5042.305 |
4459.763 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
100.000 |
|
(b) Deferred tax liabilities (Net) |
24.077 |
24.164 |
0.014 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
41.553 |
30.587 |
21.255 |
|
Total Non-current
Liabilities (3) |
65.630 |
54.751 |
121.269 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3984.618 |
3006.682 |
4350.776 |
|
(b) Trade
payables |
2348.243 |
1880.191 |
1875.256 |
|
(c) Other
current liabilities |
187.246 |
163.594 |
100.747 |
|
(d) Short-term
provisions |
233.990 |
58.498 |
9.541 |
|
Total Current
Liabilities (4) |
6754.097 |
5108.965 |
6336.320 |
|
|
|
|
|
|
TOTAL |
13111.026 |
10206.021 |
10917.352 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1099.989 |
876.917 |
671.975 |
|
(ii)
Intangible Assets |
261.237 |
7.527 |
5.897 |
|
(iii)
Capital work-in-progress |
9.361 |
4.097 |
77.410 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.336 |
|
(b) Non-current Investments |
30.000 |
281.738 |
146.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
221.769 |
513.812 |
310.016 |
|
(e) Other
Non-current assets |
3.819 |
7.561 |
0.000 |
|
Total Non-Current
Assets |
1626.175 |
1691.652 |
1213.034 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6089.171 |
4565.329 |
4790.081 |
|
(c) Trade
receivables |
5070.062 |
3624.817 |
4125.776 |
|
(d) Cash
and cash equivalents |
244.864 |
265.302 |
358.735 |
|
(e)
Short-term loans and advances |
78.446 |
51.276 |
428.278 |
|
(f) Other
current assets |
2.308 |
7.645 |
1.448 |
|
Total
Current Assets |
11484.851 |
8514.369 |
9704.318 |
|
|
|
|
|
|
TOTAL |
13111.026 |
10206.021 |
10917.352 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
19875.999 |
15234.063 |
14601.206 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
18864.527 |
14299.629 |
13737.608 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1011.472 |
934.434 |
863.598 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
259.309 |
204.335 |
179.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
752.163 |
730.099 |
683.628 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3038.805 |
2526.263 |
1902.635 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
60.000 |
70.000 |
60.000 |
|
|
|
Dividend |
200.000 |
100.000 |
0.000 |
|
|
|
Tax on Dividend |
33.990 |
16.609 |
0.000 |
|
|
|
Received on Merger |
(650.918) |
30.948 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4147.896 |
3038.805 |
2526.263 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
10161.690 |
8958.516 |
8739.608 |
|
|
|
Capital Goods |
111.838 |
19.430 |
17.159 |
|
|
|
Others |
95.148 |
73.102 |
58.697 |
|
|
TOTAL IMPORTS |
10368.676 |
9051.048 |
8815.464 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.52 |
7.30 |
6.83 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
(186.657) |
1910.953 |
(1013.134) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.78 |
4.79 |
4.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.74 |
9.42 |
8.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.63 |
0.60 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70 |
1.67 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1000.000 |
1000.000 |
1000.000 |
|
Reserves & Surplus |
3459.763 |
4042.305 |
5291.299 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4459.763 |
5042.305 |
6291.299 |
|
|
|
|
|
|
long-term borrowings |
100.000 |
0.000 |
0.000 |
|
Short term borrowings |
4350.776 |
3006.682 |
3984.618 |
|
Total
borrowings |
4450.776 |
3006.682 |
3984.618 |
|
Debt/Equity
ratio |
0.998 |
0.596 |
0.633 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
14601.206 |
15234.063 |
19875.999 |
|
|
|
4.334 |
30.471 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
14601.206 |
15234.063 |
19875.999 |
|
Profit |
683.628 |
730.099 |
752.163 |
|
|
4.68% |
4.79% |
3.78% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The
registered office of the company has been against shifted from 401-Trade Centre,
Bandra Kurla Complex, Mumbai – 400051, Maharashtra India to present address
w.e.f. 22.08.2012
LITIGATION DETALIS
|
LITIGATION DETAILS |
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|
Bench:- Bombay |
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|
Presentation
Date:- 05/11/2014 |
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|
Lodging No. : |
ITXAL/1875/2014 |
|
Failing Date:- |
05/11/2014 |
|
Petitioner:- |
COMMISSIONER OFINCOME TAX-3
MUMBAI |
Respondent:- |
JEWELEX INDIA PVT LTD |
|
|
Petn.Adv:- |
VIPUL ARUN BAJPAYEE (14135) |
Resp. Adv.: |
ATUL KARSANDAS
JASANI (33) |
|
|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION (Original Side Matters) |
|
|
Last Date:- |
26.02.2015 |
|||
|
Last Coram:- |
ACCORDING TO
SITTING LIST ACCORDING TO
SITTING LIST |
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|
|
|
|||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
||
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 |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from directors |
388.800 |
424.400 |
|
Total |
388.800 |
424.400 |
|
|
|
|
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10362272 |
30/05/2012 |
175,900,000.00 |
UNION BANK OF INDIA |
OVERSEAS SEEPZ
BRANCH, #007, BLOCK II, SEEPZ++, Maharashtra - 400096, INDIA |
B42281394 |
|
2 |
90353333 |
05/06/2014 * |
6,333,000,000.00 |
The Royal Bank of Scotland N. V. |
4, North Avenue, Level 3, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA |
C09564246 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
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. 66.14 |
|
UK Pound |
1 |
Rs. 100.55 |
|
Euro |
1 |
Rs. 71.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
53 |
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.