MIRA INFORM REPORT
|
Report No. : |
349376 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIATRENDS JEWELLERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. B/3, Road No. 6, Off. M.I.D.C. Central Road, M.I.D.C., Andheri
(East), Mumbai-400093, Maharashtra |
|
Tel. No.: |
91-22-28385890 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.08.2000 |
|
|
|
|
Com. Reg. No.: |
11-128265 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36900MH2000PTC128265 |
|
|
|
|
IEC No.: |
0300072627 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD2163P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Diamond Jewellery in Gold and Platinum. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2000 having
satisfactory track. For the financial year ended 2014, the company possesses decent revenue
profile by recording profit before tax of Rs. 20 million during the year
under review. Further, rating also considers company’s acceptable financial risk
profile with good capital structure backed by its adequate net worth base, comfortable
liquidity position and favourable gap between trade payables to its
receivables. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. In view of aforesaid, the company can be considered 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 – 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
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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Mahesh |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-40712000 |
|
Date : |
10.11.2015 |
LOCATIONS
|
Registered Office : |
Plot No. B/3, Road No. 6, Off. M.I.D.C. Central Road, M.I.D.C.,
Andheri (East), Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91-22-28385890/ 28385892 |
|
Fax No.: |
91-22-28385925/ 23808785 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sanjay Anandilal Kothari |
|
Designation : |
Director |
|
Address : |
3-A, Monolith,, 7, Nepean Sea Road,, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
25.01.1947 |
|
Date of Appointment : |
26.04.2001 |
|
DIN No.: |
00121585 |
|
|
|
|
Name : |
Mr. Kunal Mehta |
|
Designation : |
Director |
|
Address : |
A103 , Paradise Apartments, 10th Floor,, 44 Nepeansea Road,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1969 |
|
Qualification : |
B. Com |
|
Experience : |
20 Years |
|
Date of Appointment : |
16.08.2000 |
|
DIN No.: |
00161098 |
|
|
|
|
Name : |
Mr. Dhaval Yatish Mehta |
|
Designation : |
Director |
|
Address : |
A103, Paradise Apartments , 10th Floor, 44 Nepeansea Road,
Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1972 |
|
Qualification : |
B. Com |
|
Experience : |
20 Years |
|
Date of Appointment : |
16.08.2000 |
|
DIN No.: |
00161262 |
|
|
|
|
Name : |
Mr. Sunit Kothari |
|
Designation : |
Director |
|
Address : |
Mona Lith 3rd Floor, 7 Nepeansea Road, Mumbai-400036,
Maharashtra, India |
|
Date of Birth/Age : |
24.08.1972 |
|
Date of Appointment : |
16.08.2000 |
|
DIN No.: |
00161314 |
|
|
|
|
Name : |
Mr. Yatishbhai Mehta |
|
Designation : |
Director |
|
Address : |
A- Paradise Apartments, 10th Floor, 44 Nepeansea Road,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1944 |
|
Date of Appointment : |
26.04.2001 |
|
DIN No.: |
00161355 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kunal Mehta, Ashwin Nagarwadia and Kumud A. Nagarwadia |
|
100 |
|
Dhaval Yatish Mehta, Anuja D. Mehta and Indra Y. Mehta |
|
249900 |
|
Sunit T Kothari, Shweta Kothari and Maya Kothari |
|
499900 |
|
Kunal Mehta, Priti K. Mehta and Indra Y. Mehta |
|
249900 |
|
Dhaval Yatish Mehta, Shailaja Dalal and Aparna Dalal |
|
100 |
|
Sunit S Kothari, Panna Dalal and Hetal Dalal |
|
100 |
|
Total |
|
1000000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Jewellery in Gold and Platinum. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
· Indusind Bank Limited One Indiabulls Centre, 8th
Floor, Tower 1, 841, |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. R. Dalal and Company Chartered Accountants |
|
Address : |
541, Churchgate Chambers, 5, New Marine Lines, Mumbai-400020,
Maharashtra, India |
|
Tel. No.: |
91-22624665/ 22626799 |
|
Fax No.: |
91-22624665 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEPD7206R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Related Parties : |
· Diatrends Fine Jewellery Private Limited · Kunal Diamonds |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
153.989 |
140.182 |
124.254 |
|
(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) |
163.989 |
150.182 |
134.254 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
244.235 |
164.440 |
189.936 |
|
(b) Deferred tax liabilities (Net) |
1.453 |
1.459 |
1.119 |
|
(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) |
245.688 |
165.899 |
191.055 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
138.751 |
94.045 |
99.206 |
|
(c)
Other current liabilities |
45.719 |
38.590 |
36.144 |
|
(d)
Short-term provisions |
28.540 |
21.065 |
35.133 |
|
Total
Current Liabilities (4) |
213.010 |
153.700 |
170.483 |
|
|
|
|
|
|
TOTAL |
622.687 |
469.781 |
495.792 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
42.046 |
37.351 |
30.634 |
|
(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 |
55.960 |
60.960 |
60.960 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
3.300 |
3.300 |
3.300 |
|
(e)
Other Non-current assets |
1.843 |
1.866 |
0.860 |
|
Total
Non-Current Assets |
103.149 |
103.477 |
95.754 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
259.057 |
195.012 |
161.118 |
|
(c)
Trade receivables |
170.870 |
107.293 |
166.890 |
|
(d)
Cash and cash equivalents |
35.257 |
19.378 |
10.624 |
|
(e)
Short-term loans and advances |
54.233 |
44.234 |
61.071 |
|
(f)
Other current assets |
0.121 |
0.387 |
0.335 |
|
Total
Current Assets |
519.538 |
366.304 |
400.038 |
|
|
|
|
|
|
TOTAL |
622.687 |
469.781 |
495.792 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
839.968 |
717.308 |
820.061 |
|
|
|
Other Income |
4.978 |
7.041 |
6.495 |
|
|
|
TOTAL |
844.946 |
724.349 |
826.556 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
549.439 |
669.418 |
|
|
|
Employees benefits expense |
|
42.102 |
37.283 |
|
|
|
Other expenses |
|
86.390 |
68.459 |
|
|
|
TOTAL |
824.044 |
677.931 |
775.160 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial and Depreciation Expenses) |
46.418 |
51.396 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
21.922 |
26.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
24.496 |
24.917 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
7.127 |
5.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.902 |
17.369 |
19.296 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
6.240 |
5.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
11.129 |
14.120 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
782.901 |
659.373 |
568.448 |
|
|
TOTAL EARNINGS |
782.901 |
659.373 |
568.448 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
23.916 |
28.912 |
175.489 |
|
|
|
Capital Goods |
1.539 |
1.997 |
0.000 |
|
|
TOTAL IMPORTS |
25.455 |
25.455 |
175.489 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
11 |
14 |
|
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 |
(23.721) |
70.008 |
35.553 |
|
|
|
|
|
|
Net Cash from Operating Activities |
(56.026) |
48.104 |
13.795 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
1.55 |
1.72 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
6.47 |
6.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.69 |
4.25 |
4.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.12 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.49 |
1.09 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44 |
2.38 |
2.35 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
124.254 |
140.182 |
153.989 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
134.254 |
150.182 |
163.989 |
|
|
|
|
|
|
Long-term borrowings |
189.936 |
164.440 |
244.235 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
189.936 |
164.440 |
244.235 |
|
Debt/Equity
ratio |
1.415 |
1.095 |
1.489 |
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 |
820.061 |
717.308 |
839.968 |
|
|
|
(12.530) |
17.100 |
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 |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
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 & 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.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10537843 |
24/07/2015 * |
1,000,000.00 |
INDUSIND BANK LIMITED |
ONE INDIABULLS
CENTRE, 8TH FLOOR, TOWER 1,, 841, |
C64676950 |
|
2 |
10524294 |
24/07/2015 * |
210,000.00 |
INDUSIND BANK LIMITED |
ONE INDIABULLS
CENTRE, 8TH FLOOR, TOWER 1,, 841, |
C66095456 |
|
3 |
90148347 |
24/07/2015 * |
300,000,000.00 |
INDUSIND BANK LIMITED |
ONE INDIABULLS
CENTRE, 8TH FLOOR, TOWER 1,, 841, |
C64677099 |
|
4 |
90147817 |
21/11/2002 * |
20,000,000.00 |
BANK OF INDIA |
BULLTON EXCHANGE
BRANCH, MUMBAI- 400 |
- |
|
5 |
90143542 |
27/08/2001 |
5,000,000.00 |
BANK OF INDIA |
BULLTON EXCHANGE BRANCH, MUMBAI- 400002, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Directors |
17.655 |
17.655 |
|
|
|
|
|
Total |
17.655 |
17.655 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from A/223 Virwani
Industrial Estate, 2nd Floor off Western Express Highway Goregaon (East),
Mumbai-400063, Maharashtra, India to the present address w.e.f 01.04.2010
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Premises
·
Electrical Fittings
·
Computer
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. 66.14 |
|
|
1 |
Rs. 100.55 |
|
Euro |
1 |
Rs. 71.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
IND |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.