MIRA
INFORM REPORT
|
Report Date : |
19.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TEJAS NETWORKS INDIA LIMITED |
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Registered Office : |
58, 1st Main Road, J P Nagar, 3rd Phase,
Bangalore – 560 078, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.04.2000 |
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Com. Reg. No.: |
08-26980 |
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CIN No.: [Company
Identification No.] |
U72900KA2000PLC026980 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT01403D |
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PAN No.: [Permanent
Account No.] |
AABCT1670M |
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Legal Form : |
A closely held Public Limited Company. |
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Line of Business : |
Manufacturers, Importers, Exporters and Traders of all kinds
of Hardware, Software, Networks, Communication Equipments and IT Solutions
and Services |
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 : |
USD 3015688 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has sustained accumulated losses. It’s payments are reported as slow. Profit margin is under severe pressure although sales revenue are
growing fast. The company can be considered for normal business dealings at usual
trade terms and conditions with some caution in view of huge accumulated
losses. |
LOCATIONS
|
Registered Office / Factory / Branches 1 : |
58, 1st Main Road, J P Nagar, 3rd Phase,
Bangalore – 560 078, Karnataka |
|
Tel. No.: |
91-80-4179 4600 /700 /800 / 51794600 / 700 / 800 |
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Fax No.: |
91-80-4121 4481 / 51214481 |
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E-Mail : |
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Website : |
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Head Office/
R & D Centre / Optical Lab : |
Zone 2, 1st Floor, Khanija Bhavan, 49, Race Course Road, Bangalore – 560 001, Karnataka, India |
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Tel. No.: |
91-80-2226 7495 / 2238 4712 – 19 |
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Fax No.: |
91-80-2226 7494 |
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E-Mail : |
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Website : |
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Area : |
20000 sq. ft. |
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Location : |
Rented |
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Branches 2 : |
301, Sai Plaza, Junction Of Jawahar Road, And RB Mehta Marg, Opposite Ghatkopar Railway Station,
Ghatkopar 9East), Mumbai – 4001 077, Maharashtra, India |
|
Tel. No.: |
91-22-65938780 / 25153767 |
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Fax No.: |
91-22-25103442 |
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E-Mail : |
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Branches 3 : |
2nd Floor, 11 Prem Sadan Building, Rajhendra Place, New Delhi
– 110 008, India |
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Tel. No.: |
91-11-6546 4059 / 6549 8589 |
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Fax No.: |
91-11-2572 1226 |
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E-Mail : |
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Sales Office: |
· 104, Sagar Shopping Centre, 76, J P Road Andheri (West), Mumbai – 400058, Maharashtra , India · R 535, 2nd Floor, New Rajinder Nagar, New Delhi – 110060, India Tel: 91-11-5546-4059 Telefax: 91-11-2874-5106 |
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Overseas Office: |
·
Tejas
Networks Inc., 595 Summer Street, Suite 2, Stamford, Connecticut 06901, USA · C/o. Tejas Communication Pte. Ltd., 6, Shenton Way, #28-09 DBS Building Tower Two, Singapore - 068809 Email: sales-international@tejasnetworks.com Tejsas networks India limited · C/o Sandstone Capital, 177 Milk Street, 1st Floor, Boston, MA – 02109 |
DIRECTORS
|
Name : |
Dr. Gururaj Deshpande |
|
Designation : |
Director |
|
Address : |
No. 9, Sparta Way, Andover, Massachussets, U.S.A. – 0810 6065 |
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Date of Birth/Age : |
30.11.1950 |
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|
Name : |
Mr. Sanjay Nayak |
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Designation : |
Managing Director and Chief Executive officer |
|
Address : |
529, 17 D Main, 6th Block, Koramangala, Bangalore, Karnataka |
|
Date of Birth/Age : |
28.06.1964 |
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Date of Appointment : |
06.05.2000 |
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Name : |
Mr. Ashok Vasudevan |
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Designation : |
Director |
|
Address : |
143, Apartment 6-C, Hoyt Street, Stamford, Connecticut, U.S.A. – 06905 |
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Qualification : |
M.S. (Electronical and Computer Engineering) B.E. (Electronics and Communication Engineering) |
|
Experience : |
14 years |
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Other Directorship: |
Synopsys India - Managing Director |
|
|
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|
Name : |
Mr. Kevin Jyo Oye |
|
Designation : |
Director |
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Address : |
150, Appollo Drive, Chelmsford, Massachussets, U.S.A.- 01824 |
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Date of Birth/Age : |
06.03.1958 |
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|
Name : |
Mr. Munesh Chavla |
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Designation : |
Director |
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Address : |
C-17,14, Rajesh Residency, Koramangala, Bangalore – 560034, Karnataka |
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Date of Birth/Age : |
04.01.1967 |
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Name : |
Prof. Ashok Jhunjhunwala |
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Designation : |
Director |
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Address : |
C-2/2/5, Loop Road, IIT Madras, Chennai – 600036, Tamil Nadu |
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Date of Birth/Age : |
22.06.1953 |
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|
Name : |
Mr. N. Ramanathan |
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Designation : |
Vice president , Supply Chain |
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Name : |
Mr. Ashok Vasudevan |
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Designation : |
Director |
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Address : |
143, Apartment 6-C, Hoyt Street, Stamford, Connecticut, U.S.A. – 06905 |
|
Qualification : |
M.S. (Electronical and Computer Engineering) B.E. (Electronics and Communication Engineering) |
|
Experience : |
14 years |
|
Other Directorship |
Managing Director (Synopsys India) |
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Name : |
Mr. Ramchandra Jayaraman |
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Designation : |
Director |
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Address : |
417 Faculty Quarters, Indian Institute of management, Banner Ghatta, Bangalore – 560 076, Karnataka, India |
|
Date of Birth/Age : |
01.06.1957 |
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Date of Appointment : |
03.08.2007 |
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|
Name : |
Mr. Navin Chaddha |
|
Designation : |
Director |
|
Address : |
11754 Ridge Creek CT. Cupertino, California |
|
Date of Birth/Age : |
14.12.1970 |
|
Date of Appointment : |
03.08.2007 |
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|
Name : |
Mr. Mohan Das Pai |
|
Designation : |
Director |
|
Address : |
521, The embassy Ali Askar Road, Bangalore – 560 052, India |
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Date of Birth/Age : |
05.11.1958 |
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Date of Appointment : |
03.08.2007 |
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Name : |
Mr. Shahzaad Siraj Dalal |
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Designation : |
Director |
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Address : |
902, Cresecent Heights, V N Naik Road, (Forgett Street), Mumbai – 400 036, Maharashtra |
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Date of Birth/Age : |
01.12.1958 |
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Date of Appointment : |
16.01.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Mahajan |
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Designation : |
Vice President, Sales |
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|
Name : |
Mr. B N Satyesh |
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Designation : |
Vice President, International Sales |
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|
Name : |
Mr. Yossi Yehiel |
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Designation : |
Vice President, Operations. |
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Name : |
Mr. Sekar N |
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Designation : |
Vice President, Team Tejas Cares. |
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Name : |
Mr. R Murali |
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Designation : |
Chief Financial Officer |
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Name : |
Dr. Kumar N. Sivarajan |
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Designation : |
Chief Technology officer |
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Qualification : |
M.S. and Ph.D. (Electrical Engineering) B. Tech. (Electronics) |
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Previous Employment |
Associate Professor |
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|
Name : |
Mr. Arnob Roy |
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Designation : |
President, Engineering |
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|
Name : |
Mr. Rangnath Rangu Salgame |
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Designation : |
President |
|
Address : |
M.S. (Computer Science) B. Tech (Electronics and Communication engineering) |
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Previous Employment |
Senior Engineering Manager |
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Experience : |
14 years |
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|
Name : |
Dr. Harmeet Singh |
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Designation : |
Vice President , international Business development |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Sanjay Nayak |
|
9250 |
|
Mr. Sivarajan Kumar |
|
3000 |
|
Mr. Arnob Roy |
|
2812 |
|
Mr. Sanjay Malpani |
|
835 |
|
ASG Omni LLC |
|
1500 |
|
Sycamore Networks Inc |
|
22000 |
|
Mr .Gururaj Deshpande |
|
21999 |
|
ASG Omni LLC |
|
3500 |
|
Intel Capital Corporation |
|
6138 |
|
Mr. Gururaj Deshpande |
|
4528 |
|
Sara Fund Trustee Company limited – A/C Sara Fund |
|
4503 |
|
Il and Fs Trust Company Limited |
|
3773 |
|
Development Investment Trust Company limited – A/C IT Fund |
|
1258 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Venture Capital |
9.00 |
|
2 |
Foreign holdings (Foreign institutional
investor, Foreign companies, Foreign financial institution, Non – resident Indian
or Overseas corporate bodies or Others. |
63.00 |
|
3 |
Directors or relative of directors |
10.00 |
|
4 |
Others |
18.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers, Exporters and Traders of all
kinds of Hardware, Software, Networks, Communication Equipments and IT
Solutions and Services |
|
|
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Imports : |
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Countries : |
USA, Singapore, Taiwan and Japan |
|
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Terms : |
|
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Purchasing : |
L/C, Sight, Documents through bank and D/P terms, Delivery and Credit (upto 30 days) terms. |
PRODUCTION STATUS as on 31.03.2005:-
|
Particulars |
|
|
|
Actual
Production |
|
Optical Networking and telecommunication equipments – multiplexers |
|
|
|
1723 |
GENERAL
INFORMATION
|
Customers : |
· Dishnet DSL · Mahanagar Telephone Nigam Limited · Reliance · Tata Teleservices · Tata ME extending technologies · Indian Oil · Photonic Bridges · Shyam Telecon Limited · Tata Power Company Limited · Indian Railways / Railtel · Videsh Sanchar Nigam Limited, Bangalore, Karnataka · Reliance Telecom Limited · Hughes Telecom · Hitron Technologies |
|
|
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No. of Employees : |
150 |
|
|
|
|
Bankers : |
· Deutsche Bank Ag, Raheja Towers, M. G. Road, Bangalore – 560 001, Karnataka · Vijaya Bank Address: Jalahalli Branch No. 12/10, M S R Road, Sundar Nagar, Gokula, Bangalore, - 560 054, Karnataka, India · Ing Vysya Bank Limited Address: M G Road, Branch, M G Road, Bangalore – 560 001, Karnataka,
India · The Hong Kong and Shanghai Banking Corporation Limited Address: No. 7 M
G Road, Bangalore – 560 001, Karnataka, India |
|
|
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Banking
Relations : |
Satisfactory |
|
|
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|
Auditors : |
|
|
Name : |
Deloitte Haskins & Sells Chartered Accountants |
|
Address 1: |
Deloitte House, 70/3, Miller Road, Bangalore – 560052, Karnataka, India |
|
Address 2: |
Deloitte Centre, Anchorage II, 100 / 2, Richmond Road, Bangalore – 560 025, Karnataka, India |
|
|
|
|
Associates/Subsidiaries : |
˜ Tejas Communication Pte. Limited, Singapore ˜ Tejas Networks Inc, USA |
CAPITAL STRUCTURE
Authorised Capital : ( as on 30.09.2006)
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity shares |
Rs. 10/- each |
Rs. 3.000 millions |
|
1062500 |
Preference Shares |
Rs.1000/- each |
Rs.1062.500 millions |
|
|
|
Total |
Rs.1065.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
99218 |
Equity shares |
Rs. 10/-
each |
Rs. 0.992
millions |
|
1062495 |
Preference Shares |
Rs. 1000/-
each |
Rs.1062.495
millions |
|
|
|
Total |
Rs.1063.487 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1063.471 |
1063.447 |
365.871 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
268.956 |
268.450 |
268.340 |
|
|
4] (Accumulated Losses) |
[578.505] |
[434.348] |
[297.062] |
|
|
NETWORTH |
753.922 |
897.549 |
337.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
541.154 |
160.733 |
20.543 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
541.154 |
160.733 |
20.543 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
STOCK OPTION OUTSTANDING ACCOUNT |
0.403 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1295.479 |
1058.282 |
357.692 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
67.963 |
31.064 |
25.376 |
|
|
Capital work-in-progress |
0.924 |
1.073 |
0.617 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.831 |
100.034 |
3.831 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
490.250 |
164.597 |
62.784 |
|
|
Sundry Debtors |
929.139 |
404.621 |
262.627 |
|
|
Cash & Bank Balances |
94.191 |
268.893 |
54.157 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
105.594 |
166.786 |
34.506 |
|
Total
Current Assets |
1619.174 |
1004.897 |
414.074
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
381.739 |
75.355 |
80.657 |
|
|
Provisions |
14.674 |
3.431 |
5.549 |
|
Total
Current Liabilities |
396.413 |
78.786 |
86.206
|
|
|
Net Current Assets |
1222.761 |
926.111 |
327.868
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1295.479 |
1058.282 |
357.692 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
1284.957 |
472.468 |
267.078 |
|
|
Other Income |
11.579 |
8.809 |
1.445 |
|
|
Total Income |
1296.536 |
481.277 |
268.523 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
[141.529] |
[137.166] |
[13.193] |
|
|
Provision for Taxation |
0.000 |
0.000 |
[59.303] |
|
|
Profit/(Loss) After Tax |
[141.529] |
[137.166] |
[72.496] |
|
|
|
|
|
|
|
|
Export Value |
187.153 |
62.148 |
0.000 |
|
|
|
|
|
|
|
|
Import Value |
NA |
NA |
44.351 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
982.511 |
277.088 |
0.000 |
|
|
Cost of Sales |
0.000 |
0.000 |
148.680 |
|
|
Operating and General expenses |
0.000 |
0.000 |
109.488 |
|
|
Finance Charges |
0.000 |
0.000 |
4.264 |
|
|
Consumption of stores and spares parts |
38.267 |
44.477 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
132.287 |
92.521 |
0.000 |
|
|
Managerial Remuneration |
4.000 |
4.400 |
0.000 |
|
|
Payment to Auditors |
0.785 |
0.679 |
0.000 |
|
|
Interest |
31.845 |
12.887 |
0.000 |
|
|
Insurance Expenses |
4.071 |
2.212 |
0.000 |
|
|
Power & Fuel |
6.472 |
4.066 |
0.000 |
|
|
Depreciation & Amortization |
30.868 |
20.188 |
19.284 |
|
|
Other Expenditure |
206.959 |
159.925 |
0.000 |
|
Total Expenditure |
1438.065 |
618.443 |
281.716 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
[10.91] |
[28.50] |
[26.99]
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[11.01] |
[29.03] |
[4.93]
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[8.38] |
[13.22] |
[2.99]
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.18] |
[15.28] |
[0.03]
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24 |
1.29 |
0.31
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.08 |
12.75 |
4.80
|
LOCAL AGENCY FURTHER
INFORMATION
HISTORY:
The company was incorporated on 24th April, 2000 at Bangalore in Karnataka having Company Registration Number 26980.
The name of the company was changed to the present name w.e.f. 23.10.2002.
The company was incorporated to develop globally competitive products for the
Optical Networking market. Dr. Gururaj Deshpande (Founder and Chairman of
Sycamore Networks, USA) is the Chairman of the Board of corporate promoters of
subject is Sycamore Networks (USA) and ASG Omni (USA).
Subject develops software/hardware products for building intelligent optical networks for worldwide customers and provides sales and services to design, develop and support high-speed optical networks in India and the Asia-Pacific region, using state-of-the art- products.
Subject team consists of top professionals who bring together a wealth of experience in optical networking, telecommunications, VLSI design and electronic design automation.
During 2002-03, it was converted into a deemed public limited liability company.
BUSINESS:
Subject is engaged in the business as Manufacturers, Importers, Exporters and Traders of all kinds of Hardware, Software, Networks, Communication Equipments and IT Solutions & Services.
The company provides the following services:
˜ Design and development in the areas of telecom software and related projects
˜ High end consulting in the areas of telecom software and related projects
˜ Import, marketing and installation / commissioning of optical networking systems
product
application
Subject’s products have a wide range of applications, for Optical Transport as well as Digital. Its products are currently being used for applications in:
· Access Networks
· Regional Backbone Networks
· Wireless BTS-MSC connectivity
· Ethernet LAN over SDH WAN
· Optical transport for Digital Loop Carrier (DLC)
· As MADMs for superior bandwidth management and utilization
· Digital Cross Connections
Subject believes in partnering with its customers for following services:-
· Network Planning, Design and Optimization
· Network Installation, Commissioning, Testing and Programme Management
· Customer Support and Technical Assistance
· Training
· System integration NMS, OSS integration and customizations
· End-to-end solution for customers provisioning with Sycamore Network and
· Riverstone Network
The company is in trade term with:
·
Peninsula Electronics
No. 2, Kodihalli, Airport Road (HAL II Stage PO), Bangalore – 560 008,
Karnataka, India.
·
Nera Electronics
73 Ayer Rajah Cresent, No. 07-05, Singapore
·
Tata Power Company Limited
Dharavi Receiving
Station, Matunga, Mumbai – 400 019, Maharashtra
· PMC Sierra
· Hi-Q Electronics, Hosur, Tamilnadu
· Glastronics, Mysore, Karnataka
· Sun Fibre Optics Limited, Cochin, Kerala
· Hewlett Packard India Limited, Bangalore, Karnataka
· Agilent Technologies Limited, Bangalore, Karnataka
· Sycamore Networks Inc., USA
FORM 8 :-
|
Corporation identity number or foreign company registrations number of
the company |
U72900KA2000PLC026980 |
|
Name of the company |
TEJAS NETWORKS INDIA LIMITED |
|
Address |
#58, 1st main road, J P Nagar, 3rd
Phase , Bangalore – 560 078, Karnataka, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
A charge on any interest in immovable property,
movable property ( not being pledge), others |
|
Particular of the charge holder
|
The Hong Kong and Shanghai Banking
Corporation Limited Address: No. 7 M G Road, Bangalore – 560
001, Karnataka, India Email ID: prasannavas@india.tejasnetworks.com
|
|
Nature or description of the instrument creating charge |
Agreement for hypothecation of revolving
stocks and other movable assets also present and future book debts and
present and future plant and machinery. |
|
Date of the instrument creating charge |
08.02.2007 |
|
Amount Secure by the charge |
Rs. 200.000 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest: Interest shall be payable by the company on the banking facilities as
per bank tariff subject, however that the bank shall have the right to change
the rate of interest after giving notice to the company. Terms of repayment: In consideration of banking facilities sanctioned to be sanctioned by
the bank to the company the company has hypothecated and charged to the bank
by way of first pari passu charge as a continuing security on present and
future stocks and receivable and first pari passu charge on present and
future plant and machinery the assets mentioned cost and all other charges –
payable on demand. Margin: The company shall maintain such margin as may be specified by the bank
from time to time Extent and operation of the
charge: In case the company fails to full the obligations under the agreement
the bank shall be entitled to take position of the hypothecation properties
and sell them by the public auction or private contract and utilize the
proceeds in full or in part settlement of its claims. |
|
Shorts Particulars of the Property charged |
First pari passu charge on all the company stock in trade, both
present and future including stocks of raw materials, work in progress spares
and stores and finished goods. All the company present and future boom debts
outstanding monies receivables. First pari passu charge on all the company plant and machinery, fixed
and movable machinery spares tools and accessories and other movable as per agreement.
|
|
Name of the
company |
TEJAS NETWORKS INDIA LIMITED |
|
Presented
By |
ING Vysya Bank
Limited Address: Mg
road, Bangalore – 560 052, Karnataka, India And M/s Tejas
Networks India limited |
|
1) Date and description
of instrument creating the change |
16.07.2005 General hypothecation agreement |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 304.700
millions Secured Term Loan – Rs. 300.000 millions and Bank guarantee – Rs.
4.700 millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Present and
future goods, machineries, book debts and all other movables of the borrower
including documents of title deeds to goods and all other movables such a
outstanding moneys, receivable, Claims, Bills, Invoices , document,
Contracts, engagement, Securities, investment past and present machinery
listed in the schedule hereunto and all future machinery belonging to or in
the possession or under the control of the borrower wherever lying stored and kept and whether in
possession of the borrower or the
bank or of any third party whether in India or elsewhere throughout the world
(including all such goods and all other movables as may be in course of
shipment transit by way of first charge. Stocks including components, work in
process, finished goods, etc. Receivables (Excluding
assigned to M/s Canbank Factors Limited maximum of INR 46.900 millions |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate
of interest: SSTL – 2.5% Below IVRR ; EFF Rate 9.5% per
annum with periodical rest and / or at such rates and rests as may be
specified by the bank from time to time. Penal interest: 2% per annum. Margin: As specified by the bank for the
respective facilities. Repayment: CC –On Demand – SSTL – as per specified
by the bank. |
|
5) Name and
Address and description of the person entitled to the charge. |
ING Vysya
Bank Limited Address: M G road, Branch, M G road,
Bangalore – 560 001, Karnataka, India (A Banking Company) |
OTHER INFORMATION:
The STPI unit of the company continued to make slow progress in its activities and the company could not increase its export activities largely due to the continued sluggishness in the software business of thee telecom sector worldwide. The company continues to watch the market and explore opportunities to increase its software exports.
The company has strategic relationship with Sycamore, USA.
Note:
Mr. Gururaj Deshpande of Sycamore, USA is the co-brother of Mr. N. R. Narayanamurthy, Chief Executive Office of Infosys Technologies Limited, Bangalore, and Karnataka
FIXED ASSTES:
· Leasehold Improvements
· Electrical Installation
· Furniture and fixtures
· Networking Equipment
· Computing Equipments
· Lab Equipments
· Office equipments
· Software
· Car Lease
WEBSITE DETAILS:
Vision
To build a global telecom product company from India.
Mission
To
create leading-edge, yet practical, telecommunications products and solutions
that provide the highest value to their customers worldwide.
Subject is a leading enabler of high-performance telecom infrastructure
by developing innovative carrier class communications equipment. Subject
pioneered the development of a strong portfolio of packet-aware optical
transport products based on SDH/SONET and has been credited with one of the
first commercial deployments of Ethernet-over-SDH/SONET.
Subject promise of delivering ‘an unfair advantage’ is a reality in the
networks of several telecom service providers and carriers across the world
today. Subject has witnessed enormous success in tackling the problems of
efficiently aggregating bandwidth at the edge of the network, thereby offering
substantial savings in capex and opex for its customers. Subject has developed
products that transition legacy networks into intelligent, ethernet-enabled
networks, that can be used to offer many new revenue-generating, data services.
Tens of thousands of subject equipment are working in networks that deliver
voice, data and video services to end-users. Subject is poised to continue
building upon its success by introducing new Carrier Ethernet Platforms to
further enhance the global customer experience in creating intelligent networks
of tomorrow.
Overview
Leading the Carrier Ethernet revolution
Subject has been consistently developing and delivering high quality
optical transmission equipment. Their Next-Gen SDH/SONET equipment is available
in line rates ranging from STM-1/OC-3 to STM-64/OC-192, with very rich set of
service interfaces and Optics options. With the latest addition of a DWDM product
line, Subject now offers the complete range of equipment to fulfill the needs
of any optical transmission network.
Subject has consistently believed that bringing the advantages of packet
processing to the traditional SDH/SONET equipment will help service providers
offer new value-added services, at incremental costs. This vision drove Subject
to lead the implementation of Ethernet-over-SDH/SONET and ever since they have
worked to bring more and more advanced packet processing capabilities to their
equipment. Their latest offering brings Deep Packet Inspection and Extensive
QoS to their customers, who are using their products to offer the next
generation services like Wimax/3G, IPTV/Video-On-Demand etc.
In line with the global need for Carrier Ethernet, the company products support
latest standards such as Provider Back Bone with Traffic Engineering (PBB-TE).
Using this technology, customers will have the ability to use the flexibility,
richness and other benefits of IP networks and be able to gain from the
resilience and O and M capabilities of SDH/SONET. This technology will enable
sophisticated data services and optimized bandwidth usage with Statistical
Multiplexing. At the same time, advanced Ethernet management capabilities based
on emerging standards like EFM, CFM and EthOAM will ensure SDH-like 50ms
recovery and easy of operation.
Product Highlights
· Compliant to latest ITU-T standards- Standards-based Ethernet-over-SDH/SONET
· Same platform supports both SDH and SONET standards
· Support for Low-order and High-order Virtual Concatenation (VCAT), GFP and LCAS
· All products are wideband (VT1.5/VC12) cross-connects
· Embedded software intelligence supporting auto-discovery of network topology, automated end-to-end provisioning and Customer Network Management (CNM) through an easy-to-use Network Management System (NMS)
· Common tributary cards that can be shared across multiple platforms
· Support for data features such as Packet Switching and Multi Protocol Label Switching (MPLS) encapsulation
· Support for wide variety of optics (including SFPs)
· Support for various management/interoperability options such as DCC, F1, F2/F3, VC12 or E1 management
· Designed to meet global and Indian safety/EMI standards
Product Applications
Subject products have a wide range of applications, for Optical
Transport as well as the Digital Cross-connect market. Subject products are
currently being extensively used for application
· Access networks
· Regional Backbone
· Wireless backhaul
· Ethernet LAN over SDH WAN
· Customer Premise equipment carrying TDM as well as Ethernet traffic
· Multiple-ADMs (MADM) and Wideband DXC for superior bandwidth management and utilization
· Optical transport for Digital Loop Carrier (DLC)
PRESS RELEASE:
Networks Named a
"Red Herring 100 Global" Award Winner
Chosen as one of the top 100 tech start-ups in the world
Bangalore, India – Dec 7, 2007 – Tejas Networks, an emerging leader in
next-generation optical networking equipment, announced today that it has been
selected as a winner of the Red Herring 100 Global Award.
"We are delighted to be selected amongst the winners of prestigious
first Red Herring 100 Global Award. This is a great recognition for Tejas
Networks, which is one of the first global technology product companies from
India. This award is a strong endorsement for new generation of
innovation-driven technology companies from India, who have proven that they
are amongst the best-in-class globally," said Sanjay Nayak, CEO and
Managing Director, Tejas Networks India Limited.
Red Herring 100 winners and finalists from North America, Europe and
Asia of the last three years were eligible for this award. The Red Herring
editorial team used a very competitive process to whittle down this pool of
1800 eligible promising companies to the 100 winners of this first-time award.
Evaluations were made on both quantitative and qualitative criteria such as
financial performance, innovation, management, global strategy, and ecosystem
integration.
The winning companies were announced and celebrated at the Red Herring
Global event in Seattle, WA.
About Tejas
Networks
Tejas Networks is a leading innovator of carrier grade optical
networking equipment. Today, there are tens of thousands of Tejas products enabling
numerous Service Provider networks around the world. Tejas is continuing to build upon its success by introducing
new Carrier Ethernet platforms to further enhance the global customer
experience in creating next generation networks. Contact Tejas Networks at http://www.tejasnetworks.com
About Red Herring
Red Herring is a global media company uniting the world’s best high
technology innovators, venture investors and business decision makers in a
variety of forums: a leading innovation magazine; an online daily technology
news service technology research, and major events for technology leaders
around the globe. Red Herring provides an insider’s access to the global
innovation economy, featuring unparalleled insights on the emerging
technologies driving the economy. For more information, visit www.redherring.com.
Tejas Networks named among Deloitte Technology Fast 50 INDIA
Award recognizes 50 fastest growing technology companies in India
Bangalore, November 23, 2007 – Tejas Networks, an
emerging leader in next-generation optical transport equipment, announced today
that it has been named as one of the Deloitte Technology Fast 50 India
Companies. This award recognizes the fastest growing technology companies in
India.
"We are delighted to be selected amongst the winners of Deloitte
Technology Fast 50 India. This is a great recognition for Tejas Networks, which
is one of the first technology product companies from India. This award
re-affirms our execution strategy of achieving significant success in a highly
competitive Indian telecom market," said Sanjay Nayak, CEO and Managing
Director, Tejas Networks India Limited.
Deloitte’s staff rigorously evaluated Indian technology companies
through a careful analysis of a variety of parameters including quality of
management, financial data, execution of strategy and dedication to research
and development. The award ceremony was
held at the Taj Mahal Palace and Tower, Mumbai on 22nd November
2007.
About Tejas Networks
Tejas Networks is a leading innovator of
carrier grade optical transport equipment. Today, there are tens of thousands
of Tejas products enabling numerous Service Provider networks around the world.
Tejas is continuing to build
upon its success by introducing new Carrier Ethernet platforms to further
enhance the global customer experience in creating next generation networks.
Contact Tejas Networks at http://www.tejasnetworks.com
About Deloitte
Deloitte Touche Tohmatsu India Pvt. Ltd. is a member firm
of Deloitte Touche Tohmatsu and provides non-audit consulting services.
They serve Indian business houses, multinational companies and the public
sector.
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.39.57 |
|
UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
--- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
|