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|
MIRA INFORM REPORT
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Report No. : |
505085 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
JOGI GEMS |
|
|
|
|
Registered
Office : |
Plot No 53/A-B, 4th Floor, Opposite Ramji Mandir, Bortalav Road, Kumudvadi, Bhavnagar – 364002, Gujarat |
|
Tel. No.: |
91-278-2522188 |
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Country : |
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|
|
|
Financials (as
on) : |
28.02.2017 |
|
|
|
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Date of
Establishment : |
20.08.2009 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.000 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
2409006906 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAGFJ8916N1ZV |
|
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TIN No.: |
24140201218 |
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CST No.: |
24640201218 |
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PAN No.: [Permanent Account No.] |
AAGFJ8916N |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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|
Line of Business
: |
Trader
and importer of diamonds. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
2 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Jogi Gems is a trader and importer of diamonds. The concern was started in the year 2009 and is based
in Bhavnagar, Gujarat. It is an established partnership concern having
moderate track. Rating
takes into consideration concern’s small scale of business operation along
with strong competition from organised and un-organised players in diamond
industry. However, rating weakness is partially offset by positive feedback
received from its customer (Hari Darshan Exports Private Limited), (Satyam
Impex) for satisfactory product quality and also from its banker (Axis Bank Limited),
(HDFC Bank Limited) for satisfactory banking transaction. Trade relations are reported as fair. Business is active. Payment
terms are seems to be slow but correct. The concern can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Mitul Vithani |
|
Designation : |
Accountant |
|
Contact No.: |
91-9892231212 |
LOCATIONS
|
Registered Office : |
Plot No 53/A-B, 4th Floor, Opposite Ramji Mandir, Bortalav Road, Kumudvadi, Bhavnagar – 364002, Gujarat, India |
|
Tel. No.: |
91-278-2522188 |
|
Mobile No.: |
91-9892231212 (Mr. Mitul Vithani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Rented |
|
Locality : |
Commercial |
PARTNERS
|
Name : |
Mr. Nilesh Damjibhai Goyani |
|
Designation : |
Partner |
|
Address : |
39/4, Medhdut Society, Near Jewels Circle, Bhavnagar – 364003, Gujarat,
India |
|
Date of Birth/ Age : |
07.03.1986 |
|
Qualification : |
Graduate |
|
Experience : |
10 years |
|
PAN No.: |
ARWPG5869N |
|
Aadhaar No.: |
6546 3544 2855 |
|
|
|
|
Name : |
Mr. Rajesh Babubhai Italiya |
|
Designation : |
Partner |
|
Address : |
Plot-114, Street-7, Sarita Society, Bhavnagar – 364003, Gujarat,
India |
|
Date of Birth/ Age : |
18.08.1978 |
|
Qualification : |
Graduate |
|
Experience : |
10 years |
|
PAN No.: |
AAMPI2319C |
|
Aadhaar No.: |
2683 7597 5895 |
|
Voter ID No.: |
AWD1202001 |
KEY EXECUTIVES
|
Name : |
Mr. Mitul Vithani |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader
and importer of diamonds. [Confirmed by management] |
|
|
|
|
Products : |
Rough and
Polished Diamonds |
|
|
|
|
Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
|
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Products : |
·
Diamonds |
|
Countries : |
·
Belgium ·
Hongkong ·
Dubai |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (90 / 120 Days) |
|
|
|
|
Purchasing : |
Credit (120 Days) |
GENERAL INFORMATION
|
Suppliers : |
·
H.D. Diam BVBA ·
Shana Gems DMCC ·
H.D. Diam (HK) Limited |
||||||||||||||||||||||||||||||||||||||||||||
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
2 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
P. Bhayani Associates Chartered Accountants |
|
Address : |
106, Anmol Building, Opposite Sahkari Hat, Waghawadi Road, Bhavnagar -
364001, Gujarat, India |
|
Tel No.: |
91-278-2223212 |
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Membership No.: |
106207 |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Membership : |
Not Available |
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|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 28.02.2017
|
Capital Investment : |
|
|
Owned : |
INR 0.000 Million |
|
Borrowed : |
-- |
|
Total : |
INR 0.000 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
01.04.2016 To 28.02.2017 |
31.03.2016 |
31.03.2015 |
|
|
EQUITY AND LIABILITIES |
|
|
|
|
|
1] Partner’s Capital |
0.000 |
(0.504) |
(1.220) |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.000 |
(0.504) |
(1.220) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.000 |
(0.504) |
(1.220) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.165 |
0.171 |
0.045 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
70.775 |
0.000 |
1.622 |
|
|
Sundry Debtors |
13.043 |
2.312 |
0.000 |
|
|
Cash & Bank Balances |
0.190 |
0.202 |
0.260 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
7.290 |
0.904 |
0.885 |
|
Total Current Assets |
91.298 |
3.418 |
2.767 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
91.460 |
4.089 |
4.032 |
|
|
Other Current Liabilities |
0.003 |
0.004 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities |
91.463 |
4.093 |
4.032 |
|
|
Net Current
Assets |
(0.165) |
(0.675) |
(1.265) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.000 |
(0.504) |
(1.220) |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
01.03.2017 To 31.03.2017 |
|
INCOME |
|
|
Income |
0.000 |
|
Other income |
0.000 |
|
Closing stock of finished
goods |
70.775 |
|
Total |
70.775 |
|
|
|
|
EXPENDITURE
|
|
|
Opening stock of finished goods |
10.032 |
|
Purchase of trading goods |
60.743 |
|
Total |
70.775 |
|
|
|
|
NET PROFIT / (LOSS) |
0.000 |
|
|
PARTICULARS |
01.04.2016 To 28.02.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
23.594 |
2.312 |
22.505 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Closing Stock of finished
goods |
10.032 |
0.000 |
1.622 |
|
|
TOTAL |
33.626 |
2.312 |
24.127 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchase of trading goods |
32.623 |
0.000 |
0.000 |
|
|
Opening stock of finished goods |
0.000 |
1.622 |
20.791 |
|
|
Cost of trading goods |
0.000 |
0.000 |
2.671 |
|
|
Direct expenses |
0.000 |
0.000 |
0.083 |
|
|
Administrative expenses |
0.223 |
0.498 |
0.521 |
|
|
Remuneration to partners |
0.554 |
0.160 |
0.000 |
|
|
TOTAL |
33.400 |
2.280 |
24.066 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST AND DEPRECIATION |
0.226 |
0.032 |
0.061 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
DEPRECIATION |
0.226 |
0.032 |
0.061 |
|
|
|
|
|
|
|
Less |
DEPRECIATION |
0.006 |
0.006 |
0.007 |
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
0.220 |
0.026 |
0.054 |
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
01.04.2016 To 28.02.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
201.78 |
365.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.81 |
1.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
1023.29 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.04 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.37 |
0.19 |
1.36 |
LEVERAGE RATIOS
|
PARTICULARS |
01.04.2016 To 28.02.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.00 |
1.14 |
1.43 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.00 |
(8.12) |
(3.30) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
(0.34) |
(0.04) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
01.04.2016 To 28.02.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.93 |
1.12 |
0.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.24 |
0.72 |
1.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.00 |
(5.16) |
(4.43) |
SOLVENCY RATIOS
|
PARTICULARS |
01.04.2016 To 28.02.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.00 |
0.84 |
0.69 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.22 |
0.84 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.00 |
(0.14) |
(0.43) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.00 |
0.84 |
0.69 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
28.02.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Partner’s Capital |
(1.220) |
(0.504) |
0.000 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(1.220) |
(0.504) |
0.000 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
28.02.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
22.505 |
2.312 |
23.594 |
|
|
|
(89.727) |
920.502 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
28.02.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
22.505 |
2.312 |
23.594 |
|
Profit/(Loss) |
0.054 |
0.026 |
0.220 |
|
|
0.24% |
1.12% |
0.93% |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last about three
years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
DIAMOND INDUSTRY –
INDIA
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
Excerpts from Times of India dated 30th October 2010 is as
under –
Gem and Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
|
COMPUTATION OF TOTAL INCOME ASSESSMENT YEAR 2017-2018 FINANCIAL YEAR 2016-2017 |
|
|
Amount (INR in million) |
Amount (INR in million) |
Amount (INR in million) |
|
PROFITS AND
GAINS FROM BUSINESS AND PROFESSION |
|
|
0.220 |
|
|
|
|
|
|
JOGI
GEMS |
|
|
|
|
Profit
and Loss |
|
0.220 |
|
|
Add: |
|
|
|
|
Depreciation Disallowed |
0.006 |
|
|
|
Disallowed Partners’ Remuneration |
0.554 |
0.560 |
|
|
|
|
0.780 |
|
|
Less: Allowed Depreciation |
|
(0.006) |
|
|
|
|
0.774 |
|
|
Less: Allowed Remuneration U/S 40b (As per calculation) |
|
(0.554) |
|
|
|
|
0.220 |
|
|
GROSS TOTAL INCOME |
|
|
0.220 |
|
TOTAL INCOME |
|
|
0.220 |
|
TOTAL INCOME ROUNDED OFF U/S 288A |
|
|
0.220 |
|
|
|
|
|
|
COMPUTATION OF TAX ON TOTAL INCOME |
|||
|
Tax on INR 0.220 @ 30% |
|
|
0.066 |
|
|
|
|
0.066 |
|
Add: Education CESS @ 2% |
|
|
0.001 |
|
|
|
|
0.067 |
|
Add: Secondary and Higher Education CESS @ 1% |
|
|
0.001 |
|
|
|
|
0.068 |
|
ADD INTEREST PAYABLE |
|
|
|
|
Interest U/S 234B |
|
0.003 |
|
|
Interest U/S 234C |
|
0.003 |
0.006 |
|
|
|
|
0.074 |
|
TAX ROUNDED OFF U/S 288B |
|
|
0.074 |
|
LESS SELF ASSESSMENT TAX U/S 140A |
|
|
|
|
Axis Bank-6360183-00002-27/07/2017 |
|
0.071 |
|
|
HDFC Bank- 0510136-17002-17/10/2017 |
|
0.003 |
0.074 |
|
TAX PAYABLE |
|
|
NIL |
|
|
|
|
|
|
CALCULATION OF REMUNERATION ALLOWED U/S 40B |
|
|
|
|
BOOK PROFIT (AS PER COMPUTATION) |
|
0.774 |
|
|
MAXIMUM REMUNERATION ALLOWED (90% OF INR 0.300 + 60% OF NEXT INR 0.474) |
|
0.555 |
|
|
|
|
|
|
|
REMUNERATION PAID |
|
0.555 |
|
|
REMUNERATION ALLOWED |
|
0.555 |
|
FIXED ASSETS:
· Electrical Installation
· Plant and Machinery
· Furniture and Fixtures
· Office Building
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.