|
|
|
MIRA INFORM REPORT
|
Report No. : |
486645 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUTARIYA GEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
EW 8011, Bharat Diamond Bourse, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-23683588 / 23681605 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.02.2009 |
|
|
|
|
Com. Reg. No.: |
11-190053 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 20.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2009PTC190053 |
|
|
|
|
IEC No.: |
0308088590 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS7457G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is the Company is engaged in the business of manufacturing and selling loose diamonds. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in 1986 as a partnership firm with the name
“Sutaria Brothers” and it was reconstituted as a private limited company in
2009. The company is engaged in cutting and polishing of diamonds. It is having
moderate track. Management of the company has not filed its financial with the
government department for the year 2017. As per Registrar of Companies the date of balance sheet (i.e.,
financial filed) is shown as 31.03.2016 but the documents related to the
financial for the year 2016, 2015 and 2014 are not available from any
sources. Mr. Rajesh Shah (Accounts Department) denied to provide any
information about the company. As per available financial records of 2013, general financial position
of the company seems to be fair. Rating remains constrained on account of the company’s absence of
audited financial statement to evaluate the current financial standing. The rating is also constrained by strong competition from organized
and un-organized players in diamond industry. Payments are reported to be unknown. In view of aforesaid, the company can considered for business dealing
on safe and secured trade terms and condition. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating (BB) (Issuer Not Cooperating) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
11.01.2018 |
Note: Absence of requisite information.
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
31-03-2016.
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 18.01.2018
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 DENIED BY
|
Name : |
Mr. Rajesh Shah |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-23683588 |
|
Date : |
17.01.2018 |
LOCATIONS
|
Registered Office : |
EW 8011, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-23683588 / 23681605 |
|
Fax No.: |
91-22-23690883 |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
15, Kohinoor Society, Varcha Road, Surat – 395006, Gujarat, India |
|
Location : |
Owned |
|
Locality: |
Industrial |
DIRECTORS
As on: 31.03.2017
|
Name : |
Mr. Rakesh Ravjibhai Patel |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
Rubi, A-Wing, Flat No. 303,304, 7th Road, Juhu Scheme, Mumbai, 400049
- Maharashtra, India |
||||||||||||
|
Date of Birth: |
19.02.1987 |
||||||||||||
|
Date of Appointment : |
03.02.2009 |
||||||||||||
|
DIN No.: |
02335189 |
||||||||||||
|
Other
Directorship
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Ravjibhai Dharamshibhai Patel |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
303.304 Ruby Apartment, 7th North Road, JVPD Scheme, Vile Parle East,
Mumbai - 400049, Maharashtra, India |
||||||||||||
|
Date of Birth: |
07.03.1959 |
||||||||||||
|
Date of Appointment : |
03.02.2009 |
||||||||||||
|
DIN No.: |
02335191 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Premjibhai Dharamshibhai Beladiya |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
237, Vikram Nagar Society, Near Darpan Cinema, L.H. Road, Surat -
395006, Gujarat, India |
||||||||||||
|
Date of Birth: |
12.03.1951 |
||||||||||||
|
Date of Appointment : |
03.02.2009 |
||||||||||||
|
DIN No.: |
02378001 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Vinodbhai Premjibhai Beladiya |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
237, Vikram Nagar Society, Near Darpan Cinema, L.H. Road, Surat -
395006, Gujarat, India |
||||||||||||
|
Date of Birth: |
03.11.1974 |
||||||||||||
|
Date of Appointment : |
03.02.2009 |
||||||||||||
|
DIN No.: |
02378047 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Hareshbhai Premjibhai Beladia |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
237, Vikram Nagar Society, Near Darpan Cinema, L.H. Road, Surat -
395006, Gujarat, India |
||||||||||||
|
Date of Birth: |
09.09.1977 |
||||||||||||
|
Date of Appointment : |
03.02.2009 |
||||||||||||
|
DIN No.: |
02378155 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Shah |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Lochan Jain and Associates |
|
Designation : |
Practising Company Secretaries |
|
Address : |
B-2/306, Lok Everest, ACC Road, Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
Tel. No: |
91-22 – 25948656 |
|
Mob. No: |
91-9867636493 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2016
|
Names of
Shareholders (Equity Shareholders) |
|
No. of Shares |
|
Ravjibhai Dharamshibhai Patel |
|
140000 |
|
Rakesh Ravjibhai Patel |
|
81000 |
|
Premjibhai Dharamshibhai Beladiya |
|
166250 |
|
Vinodbhai Premjibhai Beladiya |
|
241750 |
|
Hareshbhai Premjibhai Beladia |
|
121000 |
|
Total |
|
750000 |
|
Names of
Shareholders (Preference Shareholders) |
|
No. of Shares |
|
Ravjibhai Dharamshibhai Patel |
|
300000 |
|
Rakesh Ravjibhai Patel |
|
135000 |
|
Premjibhai Dharamshibhai Beladiya |
|
200000 |
|
Vinodbhai Premjibhai Beladiya |
|
115000 |
|
Hareshbhai Premjibhai Beladia |
|
500000 |
|
Total |
|
1250000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is the Company is engaged in the business of manufacturing and selling loose diamonds. (Registered Activity) |
|
|
|
|
Products : |
Diamonds |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
Notes:
Normal Extension of 30 Days from Due Date –
Nil In Repayment of
Principal – Nil |
|
Financial Institutions: |
Aditya Birla Finance Limited, Indian Rayon Compound,
Veraval-362266, Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh Rajni and Company Chartered Accountants |
|
Address : |
1st Floor, Purshottam Building, 450, Off Lamington Road, Opera House,
Mumbai – 400004, Maharashtra, India |
|
PAN No.: |
AAFFR7782K |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises that directly,
or indirectly through one or more intermediaries, control, or are controlled
by, or are under common control with, the reporting enterprise (this includes
holding companies, subsidiaries and fellow subsidiaries) (As on 31.03.2013) |
M. Vinodkumar Exports |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
INR 10/- each |
INR 7.500 Million |
|
1250000 |
Preference Shares |
INR 10/- each |
INR 12.500 Million |
|
|
Total |
|
INR 20.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
INR 10/- each |
INR 7.500 Million |
|
1250000 |
Preference Shares |
INR 10/- each |
INR 12.500 Million |
|
2000000 |
Total |
|
INR 20.000
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
20.000 |
20.000 |
|
(b) Reserves & Surplus |
|
189.597 |
176.444 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
209.597 |
196.444 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
9.991 |
66.502 |
|
(b) Deferred tax liabilities (Net) |
|
1.024 |
0.859 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
11.015 |
67.361 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
203.146 |
245.851 |
|
(b) Trade
payables |
|
231.825 |
232.205 |
|
(c) Other
current liabilities |
|
0.073 |
0.354 |
|
(d) Short-term
provisions |
|
0.477 |
0.388 |
|
Total Current
Liabilities (4) |
|
435.521 |
478.798 |
|
|
|
|
|
|
TOTAL |
|
656.133 |
742.603 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
48.487 |
56.256 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.025 |
1.025 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.787 |
8.470 |
|
(e) Other
Non-current assets |
|
11.045 |
0.000 |
|
Total Non-Current
Assets |
|
69.344 |
65.751 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
336.875 |
376.946 |
|
(c) Trade
receivables |
|
237.097 |
290.109 |
|
(d) Cash
and cash equivalents |
|
5.897 |
5.024 |
|
(e)
Short-term loans and advances |
|
3.560 |
3.333 |
|
(f) Other
current assets |
|
3.360 |
1.440 |
|
Total
Current Assets |
|
586.789 |
676.852 |
|
|
|
|
|
|
TOTAL |
|
656.133 |
742.603 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
861.208 |
830.775 |
|
|
|
|
Other Income |
|
0.280 |
12.386 |
|
|
|
|
TOTAL |
|
861.488 |
843.161 |
|
|
|
|
|
|
|
||
|
|
EXPENSES |
|
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
NA |
NA |
||
|
|
|
|
|
|
||
|
|
TAX |
|
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
|
13.153 |
7.571 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
18.944 |
11.373 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
|
32.097 |
18.944 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB value of goods exported |
|
774.178 |
704.316 |
|
|
|
TOTAL EARNINGS |
|
774.178 |
704.316 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
464.360 |
566.391 |
|
|
|
|
Stores & Spares |
|
0.000 |
2.226 |
|
|
|
TOTAL IMPORTS |
|
464.360 |
568.617 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR ) |
|
6.58 |
3.79 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net Cash flows from operating activities |
|
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
100.49 |
127.46 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
3.63 |
2.86 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.68 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
1.02 |
1.59 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
2.08 |
2.44 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.23 |
0.29 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
1.53 |
0.91 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
2.00 |
1.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
6.28 |
3.85 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.35 |
1.41 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
0.57 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.32 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
10.66 |
15.62 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
1.35 |
1.41 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
INR In Million |
INR In Million |
|
Share Capital |
|
20.000 |
20.000 |
|
Reserves & Surplus |
|
176.444 |
189.597 |
|
Net
worth |
|
196.444 |
209.597 |
|
|
|
|
|
|
Long Term borrowings |
|
66.502 |
9.991 |
|
Short Term borrowings |
|
245.851 |
203.146 |
|
Total
borrowings |
|
312.353 |
213.137 |
|
Debt/Equity
ratio |
|
1.590 |
1.017 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
INR In Million |
INR In Million |
|
Sales |
|
830.775 |
861.208 |
|
|
|
|
3.663 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
INR In Million |
INR In Million |
|
Sales
|
|
830.775 |
861.208 |
|
Profit |
|
7.571 |
13.153 |
|
|
|
0.91% |
1.53% |
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 |
No |
|
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 |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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.
UNSECURED LOANS:
|
Particulars |
31.03.2013 INR In Million |
31.03.2012 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
9.991 |
66.502 |
|
Total |
9.991 |
66.502 |
Notes:
- There are no Formal Terms of
Repayment Agreed for Loans and Advances from Related parties. However as Company
has unconditional Informal Right to deferred its Repayment till
subsistence of Bank Loan, same are classified as Non-Current.
- No Interest is
payable in Respect of Loan from related parties.
INDEX OF CAHREGS:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G29653953 |
100045397 |
HDFC BANK LIMITED |
22/07/2016 |
30/11/2016 |
- |
100000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
C55357644 |
10477195 |
ADITYA BIRLA FINANCE LIMITED |
24/12/2013 |
17/12/2014 |
- |
160000000.0 |
Indian Rayon Compound,VeravalGJ362266IN |
|
3 |
G10741775 |
10582682 |
INDUSIND BANK LIMITED |
25/06/2015 |
- |
04/07/2016 |
94540000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMH411001IN |
|
4 |
C59485276 |
10159987 |
State Bank of India |
29/05/2009 |
01/07/2010 |
04/07/2015 |
150000000.0 |
DIAMOND BRANCH, MAJESTIC SHOPPING CENTRE,144, JSS MARG, GIRGAON,MUMBAIMH400004IN |
|
5 |
C00138255 |
10180105 |
ICICI BANK LIMITED |
04/09/2009 |
- |
13/03/2014 |
100000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
6 |
C00138248 |
10406615 |
ICICI BANK LIMITED |
04/02/2013 |
- |
13/03/2014 |
20000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
7 |
B56424906 |
10201997 |
The Saraswat Co-operative Bank Ltd |
09/01/2010 |
- |
27/08/2012 |
50000000.0 |
Overseas Branch, Marine LinesMumbaiMH400002IN |
|
8 |
B56424989 |
10162232 |
The Saraswat Co-op Bank Ltd |
28/05/2009 |
28/05/2009 |
27/08/2012 |
30000000.0 |
Overseas Branch, Marine LinesMumbaiMH400002IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 63.98 |
|
|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
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 |
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.