MIRA
INFORM REPORT
|
Report Date : |
06.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
R B
COMTEC – A DIVISION OF R B BUSINESS PROMOTION PRIVATE LIMITED |
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Registered Office : |
114,
Ansal Bhawan, 16, K. G. Marg, New Delhi – 110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.08.1986 |
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Com. Reg. No.: |
55-25035 |
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CIN No.: [Company
Identification No.] |
U74899DL1986PTC025035 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
company is specialists in WAN products and networking solution /applications. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
175000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having satisfactory track. Directors are reported as experienced and
respectable businessmen. Trade
relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered/Corporate Office : |
114,
Ansal Bhawan, 16, K. G. Marg, New Delhi – 110001 |
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Tel. No.: |
91-11-23718020/23317087/23317088/41520380/41520382 |
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Fax No.: |
91-11-23713114 |
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E-Mail : |
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Website : |
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Branches
: |
Located
at : Bangalore : Tel. No. :
91-80-25711403 Fax No. : 91-80-25711276
Chennai : Tel. No.
:91-44-28151846/ 28151847 Fax : 91-44-28154193 Kolkata : Tel. No. :
91-33-22275588/ 55390782 Tele. Fax :
91-33-22275862 Mumbai Tel. No. :
91-22-56964619/ 56964620 Fax. :
91-22-28201839 Pune :
91-20-56021498 Tele. Fax :
91-20-56032391 Secunderabad : Tel. No. :
91-40-39101000/ 39102000 Fax : 91-40-27840014 Chandigarh : Tel. No. :
91-172-5071714/ 3919714 Jaipur : Tel. No. :
91-9314934893 |
DIRECTORS
|
Name : |
Mr.
Ravi Pall |
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Designation : |
Director
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Address : |
3,
Tolstoy Lane, New Delhi – 110001, India |
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Date of Birth/Age : |
13.09.1953 |
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Date of Appointment : |
06.08.1986 |
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Name : |
Ms.
Bela Pall |
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Designation : |
Director
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Address : |
3,
Tolstoy Lane, New Delhi – 110001, India |
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Date of Birth/Age : |
15.11.1959 |
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Date of Appointment : |
06.08.1986 |
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Name : |
Mr.
Daulatram T. Pall |
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Designation : |
Director
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Address : |
3,
Tolstoy Lane, New Delhi – 110001, India |
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Date of Birth/Age : |
21.11.1929 |
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Date of Appointment : |
28.05.1990 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Ravi Pall |
907000 |
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Ms.
Bela Pall |
44000 |
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Mr.
Daulatram T. Pall |
44000 |
BUSINESS DETAILS
|
Line of Business : |
The
company is specialists in WAN products and networking solution /applications. |
GENERAL
INFORMATION
|
Bankers : |
State
Bank of India Jawahar
Vyapar Bhawan, 1, Tolstoy Marg, New Delhi – 110001, India |
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Banking Relations : |
Satisfactory
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Auditors : |
Deepak
Kumar Chartered
Accountant, 39 –
B, Street No. 2, East Azad Nagar, Krishan Nagar, Delhi – 110051, India PAN
No. : ADLPJ4395B |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
995000 |
Equity
Shares |
Rs. 10/- each |
Rs. 9.950 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
9.950 |
9.950 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
35.115 |
34.053 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
45.065 |
44.003 |
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LOAN FUNDS |
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1] Secured Loans |
|
34.288 |
29.814 |
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2] Unsecured Loans |
|
10.973 |
11.914 |
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TOTAL BORROWING |
|
45.261 |
41.728 |
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DEFERRED TAX LIABILITIES |
|
1.220 |
1.316 |
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TOTAL |
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91.546 |
87.047 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.020 |
17.481 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.074 |
0.074 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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67.935 |
44.227 |
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Sundry Debtors |
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25.575 |
40.239 |
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Cash & Bank Balances |
|
4.820 |
1.996 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
10.048 |
10.382 |
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Total Current Assets |
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108.378 |
96.844 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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29.300 |
26.700 |
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Provisions |
|
1.626 |
0.652 |
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Total Current Liabilities |
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30.926 |
27.352 |
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Net Current Assets |
|
77.452 |
69.492 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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91.546 |
87.047 |
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KEY
RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
1.69 |
1.56 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
3.50 |
3.54 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Corporation identity number or foreign
company registrations number of the company
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U74899DL1986PTC025035 |
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Name of the company |
R B BUSINESS PROMOTION PRIVATE LIMITED |
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Address |
114, Ansal Bhawan, 16, K. G. Marg, New Delhi
– 110001 |
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This Form is for |
Modification of charge |
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Type of Charges |
Others : Negative Lien dated 28th
July, 2006 |
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Particular of the charge holder |
State
Bank of India Jawahar Vyapar Bhawan, 1,
Tolstoy Marg, New Delhi – 110001, India E-mail : vk.jain@sbi.co.in |
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Amount Secure by the charge |
Rs. 69.500 millions |
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Brief of the principal terms and
conditions and extent and operation of the charge |
Rate of Interest – 2% above
SBAR [effective rate 12.75% p.a] Margin – Stock in Trade 30%, Book Debts –
30% [cover period upto 75 days ] and Book Debts – 100% [cover period above 75
days], Terms of repayment for L/C maximum of 90 days and for Bank Guarantee
not to exceed 18 months |
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Description of the property charge whether
it is a charge on |
Immovable properties, Plant and
machinery, Furniture and fixtures, Stock in trade, Book debts |
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Modification charge Charge identification number of the charge
to be modified |
90048351 |
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Particulars of the Property charged |
Ground Floor, Flat No. 103-104,
Block – B, Perola – Do-Mar, Phase – 2, Candolim, Goa |
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Brief description of the instrument
modifying the charge |
Confirmation letter of the
company dated 28th July, 2006 for deposit of title deeds
pertaining to the company’s property bearing Ground Floor, Flat No. 103-104,
Block – B, Perola-Do-Mar, Phase – 2, Candolim, Goa |
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Date of instrument modifying the charge |
28.07.2006 |
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Particulars of the present modification |
Cash credit enhanced from Rs.
30 millions to Rs. 34.500 millions and stand-by-line of credit reduced from
Rs. 4.500 millions to Nil and there is no charge in L/C and Bank Guarantee |
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Name of the company |
R B BUSINESS PROMOTION PRIVATE LIMITED |
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Presented By |
Sh. Ravi Pall [Director] |
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1) Date and description of instrument creating the change |
1. Agreement of Loan for Overall limit dated 24.02.2001 2. Agreement of Hypothecation of goods and assets dated 24.02.2001 3. Letter regarding the grant of individual limits within the overall limit dated : 24.02.2001 [All registered on 01.03.2001]
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 70.000 millions |
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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 |
1. First charge in favour of the Bank by way of hypothecation of the borrower’s entire goods, moveable and other assets present and future including documents of title to the goods and other assets, such as Book Debts, outstanding money’s receivables by way of cash assistance and / or cash incentives under the cash schemes or any other scheme, claims, including claims by way of refund of custom / excise, duties under duty draw back credit schemes or any other schemes bills, invoices, documents, contracts, insurance policies, guarantees, engagements, securities, investment rights uncalled capital and machinery present and future of such form satisfactory to the bank 2. Hypothecation of the company’s all present and future book debts / receivables, DP against book debts 3. First charge on the Fixed Assets, including equitable mortgage of the various immovable properties |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. Interest shall be charges as per State Bank Advance Rate of as per guidelines of RBI from time to time presently 2.25% above SBAR with minimum of 12.25% p.a. 2. [a] Margin in case of Raw material : N.A. [b] Margin in case of stock in process : N.A. [c] Margin in case of finished goods : 30% [d] Margin in case of book debts / receivable : up to 75 days – 30% More than 75 days – 100% 3. Loan payable on demand |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Industrial Finance Branch, Barakhamba Road, New Delhi [Present address Jawahar Vyapar Bhawan, 14th Floor, 1, Tolstoy Marg, New Delhi – 110001 |
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6) Date and brief description of instrument modifying the charge |
1. Supplemental Agreement of hypothecation of goods and assets for increase in the overall limit dt. 10.02.2005, supplemental 2. Supplemental Agreement of loan for increase in the overall limit dt. 10.02.2005 3. Supplemental deed of guarantee for increase in overall limit dt. 10.02.2005 4. Letter of consent and agreement to mortgage dt. 10.02.2005 5. Letter modifying the individual limits dt. 10.02.2005 6. Letters for the extension of securities already secured with the bank for such credit facilities 7. Letters of sanction of credit facilities |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Letter of consent and agreement of mortgage of its properties situated at Flat No. B – 103/104 at Perola Do Mar, Candolim – Goa. The credit facilities agreed and / or continued by the bank stand increased from Rs. 63.500 millions to Rs. 69.500 millions Other terms & conditions remains unchanged. |
WEBSITE
DETAILS
R. B. Business Promotion Private Limited was established in the year
1986 with the prime objective of acting as a representative and distributor of
foreign companies for the Indian market. Their division R.B. Comtec was
formed in 1997. primarily to focus on WAN access and digital transmission
products for networking.
As R. B. Comtec’s Founder, Ravi
Pall aptly sums it up.
"They may be relatively compared to other companies in their field, but
they believe that their size allows them to remain focused on their greatest
strength , that is, flexibility and responsiveness to their customer's needs.
They want every interaction to be beneficial for them. Unlike many others,
their focus is not top line but customer satisfaction".
They Are….
Specialists in WAN products and networking solution /applications and
have a products range to match a wide spectrum of WAN
requirements/applications.
Providers of cost-effective, reliable and integrated voice data &
video applications.
An established company, with almost a decade of proven track record in
meeting the needs of their customers.
A proactive and responsive company with an entrepreneurial spirit.
A full-service communications company, offering complete and
state-of-the-art products & solutions.
Their Vision : They are committed to the vision of developing an
environment for enhanced communication in which customers can take full
advantage of the benefits offered through their advanced products, solutions
and services.
Their Commitment : To deliver high quality, scalable and integrated
products and solutions that are necessary today, for the WAN/Networking
requirements of the users. To constantly source new technology while expanding
their operational infrastructure to meet the changing needs of their customers.
Their Customer Philosophy : Since their inception they have distinguished
theirselves from the competition through an organization-wide commitment to
deliver a superior customer experience .They have a clear strategy for turning
this philosophy into a reality :-
Their dedicated team of professionals throughout their specific needs
before determining the most appropriate products & solutions for their
application.
Their core team is assigned to ensure that the agreed solution is
implemented to the customer's satisfaction.
Their service engineers follow up with the customers to obtain feedback
& perform ongoing service excellence checks.
Their 24/7 dedicated support service ensure that customers get help in
real time.
Their
Strategic Partners
Teledata Networks Is a leading
provider of innovative wireline access products and next Generation Network
solutions for telecom operators and service providers worldwide. Founded in
1981, the company is part of the Kardan group, traded on the Pan-European Exchange
(Euronext) in Amsterdam. The combination of an inventive approach, along with
20 years of experience with field-proven access solutions and an installed base
in over 50 countries, leads to solutions tailored to customer's existing and
future needs.
CTC Union Technologies Specializes in both
design and manufacture of Data / Telecommunication products for networking. CTC
designs and manufactures a wide spectrum of Data communication products for
both copper and fiber optics media including rate & interface Converters,
Multiplexers, Digital Access Units, etc. Besides Data communication products,
CTC also manufactures a range of handy protocol / Transmission analyzers, BERT
testers, Analog line testers and LAN cable testers.
Optibase Founded in 1990 and listed on NASDAQ (OBAS)
since 1999, Optibase is pioneer and market leader in broadband video and
content creation platforms. Its products are at the core of professional
digital video solutions worldwide and it has taken a leading role in the
effort to standardize and form interoperability in the market place. Optibase
is chairing the IM-1 sub-committee of the ISO Moving Picture Experts Group
(MPEG-4) initiation for MPEG-4 standardization (ISO-IECJTCI.SC29WG11). Optibase
is fostering MPEG-4 and transcoding technologies which will drive solutions for
the next generation broadband internet. Optibase is a member of the Interactive
MPEG-2 Forum, the FS-VDSL forum and ISMA (Internet Streaming Media Alliance).
EMBLAZE VCON Is dedicated to bridging the distance between
people, enabling them to work side-by-side, no matter how vast the distance
between them. Using state-of-the-art videoconferencing technologies, EMBLAZE
VCON develops complete solutions that elevate communication throughout
organizations. Their advanced visual communications solutions are designed to
save time and enhance collaborative work environments, providing investment
protection with a minimal cost of ownership. EMBLAZE VCON offers PC based
solutions, Group Conferencing systems, Multiparty Conferencing systems. EMBLAZE
VCON has large presence all across the globe and a large installation base.
ZIPTEL OEM Partner Ziptel is a cost
effective and highly reliable Voice over IP (VoIP) gateway that offers toll
quality and real-time fax data over IP networks. With its embedded
architecture, Ziptel is ideal for VoIP applications associated with
small-medium size business (SMB), Remote Office and Branch Office(ROBO), and
ISP service markets. Ziptel family supports Voice Over IP (VoIP), as well as
Fax Over IP (FoIP), and it seamlessly bridges existing PBX or phones with IP
networks. Its scalabilities satisfies users’ needs for system growth without
additional software or complex integration. It also supports various types of
networks configurations and requires very little maintenance or administration.
it is fully interoperable with world renowned VoIP gateways PBXs. Furthermore,
Ziptel may coexist with broadband access devices for ADSL or CATV network.
Audio Codes Ltd Audio Codes Limited,
(NASDAQ:AUDC) designs, develops and markets voice over packet media gateway
technologies and system for converged networks. The company is a market leader
in voice compression technology and the key originator of the ITU G,723.1
standard for the emerging Voice and IP markets. Audio Codes products lines
media gateway system solutions for packet networks in the wire line, wireless
broadband access and media server markets, as well as enabling technology
products such as VoIP communication broads, VoIP media gateway modules and CPE
devices.
TELiNDUS Telindus Group NV (Euronext Brussels : TEL ) is
an international ICT company offering network-based solutions, meeting business
and public-sector needs. Telindus also services these markets as a solutions
and sourcing partner delivering secure multimedia network solutions,
underpinned by management & support services. With over 30 year of
experience in ICT, Telindus is investing heavily in expertise to service modern
telecommunications networks throughout their life cycle. Telindus Specializes
in offering top-quality consulting, integration and management services in
areas, such as, multimedia convergence, video-surveillance solutions,
integrated security, mobility solutions and network access.
K-BEST Technology Inc Is a professional RF
/ Microwave equipments provider, K-BEST develop and manufacture all kind of
microwave transmitters, receivers, and transceivers. The operating frequency
ranges from 10MHz to 50GHz. Main applications are for Wireless Internet, Satellite
Communications, Mobile base station, point-to-point radio, point-to-point
multipoint radio, Wireless audio/video and military use. Their main products
are: WLAN outdoor solution, WLAN Booster (2.4GHz), WLAN Converter (5.8GHz),
7/8GHZ LNB, EI Digital Radio.
Streambox is the pre-eminent software supplier of digital
video components and turnkey video solutions to system integrators and
solutions vendors. Streambox, with its video specialists, is an expert in
coding, managing, moving, storing, and serving video streams over a variety of
network backbones. Streambox’s mission is to apply its digital video expertise
to enable partner companies to build end user solutions in the following areas:
TV Broadcasting
Video and Film Production
Multi-point corporate video conferencing
Distance on-line learning
Digital video recording
Real-time video transport
Video monitoring
Law enforcement & public safety
Video encoding and editing
Broadband video on-demand
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.44.09 |
|
UK
Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|