MIRA
INFORM REPORT
|
Report Date : |
26th
June, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
VISION
SYSTEMS & SOLUTIONS |
|
|
|
|
Registered Office : |
311
Marine Chambers, Opposite SNDT University, New Marine Lines, Churchgate,
Mumbai – 400 020, Maharashtra, India. |
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Country : |
India |
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Date of Incorporation : |
24.05.2006 |
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|
Legal Form : |
Partnership
Concern with an Unlimited Liability of Partners |
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Line of Business : |
Vision
Systems & Solutions is a new firm. A partnership firm started on
24.05.2006. The nature of work would be to provide maintenance of “Trace” and
“EDS” products sold by GE securities. Vision
Medical System the parent company of the same partners in a service dealer of
Wipro GE Medical Systems and provides maintenance of X-Ray and Ultra Sound
products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
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|
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|
Status : |
New
Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is a new concern. Brief financials are given in the is for Vision Medical
Systems (a sister concern). Trade relations are fair. Payment are unknown. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions, initially. |
LOCATIONS
|
Registered Office : |
311
Marine Chambers, Opposite SNDT University, New Marine Lines, Churgate, Mumbai
– 400 020, Maharashtra, India. |
|
Tel. No.: |
91-22-22001566 |
|
Mobile No.: |
91-9820124095 |
|
Fax No.: |
91-22-56335096 |
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E-Mail : |
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|
Area : |
350
sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr.
Arunima Lamba |
|
Designation : |
Partners |
|
Address : |
301,
Shriram Bhavan, 745 Jehanger Vima Dalal Road, Dadar Parsi Colony, (Dadar T
T), Mumbai – 400 014, Maharashtra, India. |
|
Date of Birth/Age : |
40
Years |
|
Qualification : |
Diploma
in Environ – Engineering |
|
Experience : |
14 Years |
|
|
|
|
Name : |
Mr.
Jatin Kunverji |
|
Designation : |
Partners |
|
Address : |
B 6,
202 Vedant, Vartak Nagar, Thane (West), Maharashtra, India. |
|
Date of Birth/Age : |
35
Years |
|
Qualification : |
B. E.
(Electronics) |
|
Experience : |
10
Years |
KEY EXECUTIVES
|
Name
: |
Mr.
Premkumar Lamba |
|
Designation
: |
Chief
Executive Officer |
|
Address
: |
301,
Shriram Bhavan, 745 Jehanger Vima Dalal Road, Dadar Park Colony, Dadar,
Mumbai – 400 014, Maharashtra, India. |
|
Date
of Birth/Age : |
44
Years |
|
Qualification
: |
B. E.
(Electronics) |
|
Experience
: |
18
Years |
BUSINESS DETAILS
|
Line of Business : |
Vision
Systems & Solutions is a new firm. A partnership firm started on
24.05.2006. The nature of work would be to provide maintenance of “Trace” and
“EDS” products sold by GE securities. Vision
medical system the parent company of the same partners in a service dealer of
Wipro GE Medical systems and provides maintenance of X-Ray and Ultra sound
products. |
|
|
|
|
Agencies Held : |
v
Vision
Systems & Solutions: Proposed Service Dealership of GE security. v
Vision
Medical Systems: Dealership of Wipro GE Medical Systems & Agent
Technology. |
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|
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|
Terms : |
|
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Selling : |
Credit |
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|
|
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Purchasing : |
Credit
(90 Days) |
PRODUCTION
STATUS
|
Particulars |
|
|
X – Ray |
Service Only 400 nos |
|
Ultra Sound |
|
GENERAL INFORMATION
|
Customers : |
End
Users |
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No. of Employees : |
13 |
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Bankers : |
HDFC
Bank, Fort Mumbai |
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Facilities : |
We
have not opted for any Credit limit as we have enough liquidity. |
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Banking Relations : |
Unknown |
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Auditors : |
KLBJ
& Company |
|
Address: |
217, Samuel
Street, 111, 3rd Floor, Masjid Bander, Mumbai – 400 003. |
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E-Mail : |
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|
Sister Concern : |
Vision
Medical Systems |
|
Address: |
311,
Marine Chambers, Opposite SNDT University, New Marine Lines, Churchgate,
Mumbai – 400 020, India. |
|
Line of Business: |
Service
of X-Ray & Uitra Sound Madune. |
VISION MEDICAL SYSTEMS
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
0.830 |
|
Borrowed : |
-- |
|
Total : |
Rs.
0.830 |
FINANCIAL DATA
[all figures are in Rupees
Millions]
Vision Medical System
|
Particulars |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales Turnover |
13.098 |
8.404 |
6.612 |
|
|
|
|
|
|
Profit/Loss for the year |
0.438 |
0.258 |
0.147 |
LOCAL AGENCY
FURTHER INFORMATION
In
future for Vision Medical Systems we would like to add CT & MR
madung for maintenance. For Vision Systems & Solutions we are
secking a tie-up with GE Security for their ‘Trace’ & ‘EDS’ products.
TRADE
REFERENCES:
These
references are of Vision Medical Systems:
v
Dr.
Akshay Thakkar
Mobile No.: 91-9821122047
v
Dr.
Aslam Sopanivala
Mobile No.: 91-9223235381
v
Dr.
Abdul Sumar
Mobile No.: 91-9821325223.
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 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.46.34 |
|
UK
Pound |
1 |
Rs.84.27 |
|
Euro |
1 |
Rs.57.96 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |