MIRA
INFORM REPORT
|
Report Date : |
04.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
NEXGEN
SOFTWARE SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
E – 1,
Gothi Garden, 34, Raji Street, West Mambalam, Chennai – 600003, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
Nil |
|
|
|
|
Date of Incorporation : |
19.08.2005 |
|
|
|
|
Com. Reg. No.: |
18-57225 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200TN2005PTC057225 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEN05345E |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
To
carry on in India or elsewhere the business to establish, develop, set
arrange, undertake, manage, promote, organise, design, conduct, observe,
control, customize, provide, install, maintain, produce, modify, conceptualize,
conceive, software’s of all descriptions, applications and specifications,
used in industries, business, households, entertainments, medical, health,
railways, airlines, insurance , banking, government departments, defense,
space, education & other fields; and for the purpose to do web designing,
web based information systems, client server application, enterprise resource
planning, network management and to establish and maintain portals, to act as
internet service provider, to develop & support E commerce activities,
outsourcing, web site development, to commercialize internet applications, to
develop consumer oriented electronic commerce, to create digital signatures
& systems on demand, to develop education and digital copy rights, to
provide multimedia and digital video broadband communication, to create
domain names and all other allied services & activities used for the
information technology business and for the purpose to act as representative,
advisor, consultant, know-how provider, sponsor, franchiser, licenser and
job-worker. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
New
Company |
|
|
|
|
Payment Behaviour : |
Unknown
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
As the
subject is a new company, no financials are available. Initially,
the company can be considered for any business dealings on safe and secured
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
E – 1,
Gothi Garden, 34, Raji Street, West Mambalam, Chennai – 600003, Tamilnadu,
India |
|
Tel. No.: |
91-44-65323836 |
|
Fax No.: |
91-44-24715208 |
|
E-Mail : |
|
|
Website : |
http://www.nexgensoft.net |
DIRECTORS
|
Name : |
Ms.
Vthyakala Prakash |
|
Designation : |
Director |
|
Address : |
95,
Sudbury Court Drive, Harrow, Middx, HA 1355, UK |
|
Date of Appointment : |
21.12.2005 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr. M.
Sengnttuvan |
|
5000 |
|
Mr. K.
A. Alagarsamy |
|
5000 |
|
TOTAL |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
To
carry on in India or elsewhere the business to establish, develop, set
arrange, undertake, manage, promote, organise, design, conduct, observe,
control, customize, provide, install, maintain, produce, modify,
conceptualize, conceive, software’s of all descriptions, applications and
specifications, used in industries, business, households, entertainments,
medical, health, railways, airlines, insurance , banking, government
departments, defense, space, education & other fields; and for the
purpose to do web designing, web based information systems, client server application,
enterprise resource planning, network management and to establish and
maintain portals, to act as internet service provider, to develop &
support E commerce activities, outsourcing, web site development, to
commercialize internet applications, to develop consumer oriented electronic
commerce, to create digital signatures & systems on demand, to develop
education and digital copy rights, to provide multimedia and digital video
broadband communication, to create domain names and all other allied services
& activities used for the information technology business and for the
purpose to act as representative, advisor, consultant, know-how provider,
sponsor, franchiser, licenser and job-worker. |
GENERAL
INFORMATION
|
Bankers : |
Not
Available |
|
|
|
|
Banking Relations : |
Unknown
|
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
As the subject is a new company, no financials could
be available.
Management of the company remained non – cooperative
during current investigation.
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE
DETAILS
NexGen
Software Solutions Private Limited (NexGen) is a Software Solutions provider
with a strong focus on hi-end cutting edge Technologies. They offer total
solutions in the areas of Client/Server technologies, Desktop and Web based
Applications.
They aim to be a leading software solutions provider world-wide by providing
state-of-the-art solutions and world class services.
NexGen
understands the business implications of each client, and requirements to offer
highly customized solutions that fit their clients business perfectly
They
ensure that you get the best results out of your technical support outsourcing
initiative. Their methodology allows us to keep their delivery of services to
clients consistent and predictable.
CONSULTING :
NexGen
provides reliable and quality value added services to enable you to focus on
your core aspects. Organizations world over have realized that business causes
are effectively served if they focus on their core line of activity and
business. In a real world organizations need to grapple on a daily basis with
various activities that are indispensable but are not part of the core
business. A sound business practice is to leverage the strengths of other
organizations that can provide the needed consulting services, strategy and
implementation resources to streamline their operations.
NexGen
understands this underlying critical need and provides quality and pertinent
consulting services to organizations across the globe. Their consulting
services are aimed at complementing the core strengths of an organization and
are also intended to enable them streamline and grow by effectively using
software services. Their consulting wing is geared towards providing you the
specialized and best of the breed consultants who can visualize, complement,
contribute and implement a chosen software solution.
CUSTOMIZATION
Custom
application development is meant for designing software that has been designed
and programmed for a specific function/need. While all software developed using
application development is technically custom, the difference is that packaged
applications were designed with a general set of features to be used by a broad
range of users. Custom application development is capable of producing
practically any feature you may desire for the site.
Quality
planning and design is the key to successful Custom application development. It
can give you unique and valuable features.
Their
Custom application development, offer the company an opportunity to develop a
competitive advantage by using technology in a more productive or effective way
than the competitors. It does not have to be expensive. These solutions can
become an efficient method for both industry leaders and small companies to
reduce expenses and retain a competitive advantage.
They
provide total flexibility in terms of Custom application development - the
process is essentially "Client
Driven". It is
important to remember that a well-designed database should provide the end
product that is tailored to meet both the professional and practical business
needs and therefore serve its intended purpose.
The
Custom application development process normally includes, but is not limited
to:
Comprehensive and detailed analysis of the business needs
Preparation of design specifications
Initial design concept
Programming
Testing/validation
Client support
Ongoing development and maintenance
APPLICATION DEVELOPMENT
In the
current competitive environment companies need integrated E-business systems to
anticipate and react to customer’s requirements, collaborate with suppliers and
partners and identify and exploit new opportunities quickly and effectively.
NexGen’s
Application Integration services feature integration solutions that provide
faster time-to-market and a massive ROI advantage for E-business Infrastructure
leaving you to focus on strategic issues.
Their
industry knowledge and pool of technically trained staff help us to offer
reliable Application Integration services consistently. They deliver cost effective
solutions without compromise in quality and on time.
By
Integrating Your Systems, NexGen helps you:
Improve
the ROI
Decrease
overhead costs
Shorten
transaction time
Enhance
the customer satisfaction
Increase
inventory turnover
MICROSOFT TECHNOLOGIES
ASP & XML
COM/DCOM
Visual Basic & Visual C ++
With respect to the Microsoft technologies, they have teams working for
web and for client/server applications. Active Server Pages (ASP) from
Microsoft derives the attention of web developers and component developers with
significant highlights being its speed, ease of database programming and high
performance. The emerging trend in the web application programming has taken a
new shape with the introduction of XML removing the constraints of HTML and
SGML in the web site development. In spite of the fact that XML is designed to
be a subset of Standard Generalized Markup Language (SGML), it offers the web
transmission function of HTML. How do they use XML? The XML technology is
mainly used for exchanging data between servers automatically. With its ability
to casing database data to create custom content, they use the possibility of
employing processing tools setting no barriers for data, application, format or
syntax. They form a compound document through Document Style and Semantics
Specification Language (DSSSL) and the Cascading Style Sheets (CSS)
specification. XML here is exercised extensively for e-Commerce application
development.
Their strong suit also includes Component Object Model (COM)/Distributed
Component Object Model (DCOM). The Component Object Model, a multi-tier core
technology from Microsoft offers platform to build non-visual components. The
features of COM help reuse software components without any dependencies on source
code. Why COM? COM achieves higher levels of reuse and maintainability. COM is
used to define the need for an absolute requirement in the development of a
large information system. Their team works on the COM-enabled languages serving
customer to meet their varying requirements.
The Distributed Component Object Model (DCOM) extends the COM to support
communication among objects on different computers, on a LAN, a WAN, or even
the Internet. Since DCOM is a seamless evolution of COM, they take advantage of
existing investment in COM-based applications, components, tools and knowledge
to move into the world of standards-based distributed computing. As they do so,
DCOM handles low-level details of network protocols providing great solutions
to their customers. DCOM realizes the promise of easy distributed computing,
without compromising flexibility, scalability and robustness. With the
implementation of DCOM architecture, configuring external remote server name,
gaining programmatic control over remote server name and running surrogate
in-process components remotely are made easier. The two key aspects of DCOM
exercised are integrity and privacy for data protection.
They
offer automated, best-in-class solutions for advanced software and systems
development using two most popular application developers, Visual Basic and
Visual C++. In this process, they create applications that can run on both the
Internet and the Intranet, presenting HTML pages inside forms-based
applications. These applications are deployed with ActiveX components on the
Web. ActiveX controls formerly called OLE controls are put into practice to
tailor the development environment as per the needs. They use Microsoft
Repository, an extensible object modelling system that allows full programmatic
access through Automation objects. This system comes with the repository
add-in, a Visual Basic add-in module. The module automatically stores and
maintains the structure of Visual Basic projects in an object-oriented data repository.
On the
other hand, their team is poised for another application tool, Visual C++. The
use of VC++ provides an Integrated Development Environment (IDE) to write,
build and debug 32 bit C/C++ programs. Their expertise use Visual C++ for its
key features that include support for mainstream development build system,
large-scale development projects and support mainframe applications. They are
successful in building robust and best-breed applications for their customers
with the use of high-end software. Using the latest improvements in the
software, they help customers build confidence in their return on investments.
JAVA TECHNOLOGIES
In Java technologies, NexGen ’s
fortitude lies with Java Foundation Classes (JFC), Swing and Server side
programming in J2EE. Amongst the application servers, the expertise includes
development, administration and deployment of applications on BEA Weblogic, IBM
WebSphere and JRun. Getting on to the specifics, WebSphere is exceptional
infrastructure software for dynamic e-Business. It delivers a proven, secure
and reliable software portfolio. They use this technology to provide
comprehensive e-Business leadership. They understand that WebSphere has evolved
to meet the demands of companies facing competitive business environments and
serve for their increase in operation efficiency. For reach and user
experience, business integration and transaction servers, they make the most of
WebSphere being the only e-Business platform. It provides everything that one
needs to build, deploy and integrate e-Business related activities.
They bridge the gap between business strategy and information technology
using this software platform for a dynamic e-Business. To deliver dynamic
e-Business, they incorporate the potential five types of integration process
that include user interaction, application connectivity, process integration,
WebSphere business integration information kit and build to integrate. Java is
the cup of tea in the modern Internet world. NexGen employs Java Foundation Classes (JFC) that extends
the Abstract Window Toolkit (AWT) by adding a comprehensive set of graphical
user interface class libraries. The features of JFC include JFC/Swing
components, pluggable look and feel, accessibility API, drag and drop and AWT.
The JFC/Swing components are written in the Java programming language without
window-system-specific code. They use these features to facilitate a
customizable look and feel without relying on the native windowing system.
Their team works on Swing, a Graphical User Interface (GUI) component
kit, part of the Java Foundation Classes (JFC) integrated into Java 2 platform.
The usage of Swing simplifies deployment of applications by providing a
complete set of user-interface elements written entirely in the Java
programming language. Also, the assistive technologies such as screen readers,
screen magnifiers and speech recognition are used. The use of drag and drop
feature significantly improves application interoperability by enabling Drag
and Drop between those applications incorporating Java technology and those not
incorporating it.
Their applications developed using JFC software help customers meet
federal regulations on accessibility, making these applications more attractive
to a large number of important market segments.
DATABASES
Choosing
the right RDBMS solution for an effective database management is of highest
priority. Their proficiency is revealed with an in-depth knowledge in Oracle 8i
and 9i RDBMS, MS SQL Server 6 and above. Their team works facilitate customers
to choose the right database management solution for a given requirement. Also,
the team renders its valuable services for performing database sizing, basic
database administration activities, back-up and fault tolerance policies. A key
goal of Oracle's JServer is to provide an industry-standard Java
implementation, while achieving the robustness, scalability and performance.
Using Java and Oracle8i, they build and deploy powerful server-based Java
applications shared by all clients. These applications are distributed across
networks, providing access to Oracle data from any computer that supports Java.
Their
Oracle and Java developers are much familiar with Oracle's Java Database
Connectivity (JDBC) product as it provides the basis for accessing SQL data
from Java programs, as well as Oracle-specific extensions to this Java
standard. With the use of SQL Server, they ensure an open-architecture
integrated database administration for their customers. The enhancements to the
existing database activities are made through wizards, servers and other
automated administrative tools. They help their customers retrieve data from
external sources and feed data to other applications, copy or move databases
between servers and update databases from the existing version to the latest
version, register, configure remote and linked servers etc. Employing security
to protect and safeguard database access and using the wizard to create web
pages also form part of their core activity.
Some of the features exercised for an effective database management solution for their customers include the authentication modes, SQL Mail, migration of versions, automotive administrative tasks, scripting using Transact-SQL, multi-protocol clients, back-up and restoring databases.
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.44.84 |
|
UK
Pound |
1 |
Rs.85.55 |
|
Euro |
1 |
Rs.57.28 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
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 |
|
TOTAL |
|
15 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|