MIRA
INFORM REPORT
|
Report Date : |
23rd February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
DIGICONTROLS NORTHERN PRIVATE LIMITED |
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Registered Office : |
B-60, Goyal House, Tonk Road, Triveni Nagar, Jaipur – 302 016,
Rajasthan, India |
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Country : |
India |
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Financials (as on) : |
31.03.2002 |
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Date of Incorporation : |
29.09.1987 |
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Com. Reg. No.: |
17-4108 |
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CIN No.: [Company
Identification No.] |
U72100RJ1987PTC004108 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRD02319C |
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PAN No.: [Permanent
Account No.] |
AABCD2916N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Carry on the business of research and development, designing,
assembling, processing, manufacturing, buying, selling, importing, exporting,
distributing, agency and as concessionaries in all kinds of electronic goods,
computers, computer peripherals, communication systems and all allied
products connected therewith. To provide technical and other developmental services and collaborate
with high growth potential agencies in the areas of computers, electronic
goods and communication systems. |
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 5000 |
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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 experience and respectable businessmen. Trade
relations are 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
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Registered Office : |
B-60, Goyal House, Tonk Road, Triveni Nagar, Jaipur – 302 016,
Rajasthan, India |
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E-Mail : |
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Head Office : |
B-60, Sector – 5, Noida – 201, 301, Uttar Pradesh, India |
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Tel. No.: |
91-120-24421074/ 24421077/2421593/ 2421476 |
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Fax No.: |
91-120-24421406 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Vasant Gulab Chand Kathal |
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Designation : |
Executive Director |
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Address : |
Block L, Flat No. 233, Sarita Vihar, New Delhi – 110 044, India |
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Date of Birth/Age : |
02.02.1962 |
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Date of Appointment : |
29.09.1987 |
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Name : |
Mr. Ramgopal Jairamdas Agarwal |
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Designation : |
Non Executive Director |
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Address : |
73 Sunder Nagar, New Delhi – 110 003, India |
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Date of Birth/Age : |
09.08.1926 |
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Date of Appointment : |
10.01.2000 |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Adil Hassan |
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20 |
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Mr. Vasant Kathal |
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20 |
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Mr. Bhupinder Kumar Chowdhry |
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20 |
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Mr. Ashok Kumar |
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20 |
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Mr. Satinder Singh Chahal |
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20 |
BUSINESS DETAILS
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Line of Business : |
Carry on the business of research and development, designing,
assembling, processing, manufacturing, buying, selling, importing, exporting,
distributing, agency and as concessionaries in all kinds of electronic goods,
computers, computer peripherals, communication systems and all allied
products connected therewith. To provide technical and other developmental services and collaborate
with high growth potential agencies in the areas of computers, electronic
goods and communication systems. |
GENERAL
INFORMATION
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Bankers : |
Allahabad Bank,
Nehru Place, New Delhi, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Vipan Kapoor and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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350000 |
Equity Shares |
Rs. 10/- |
Rs. 3.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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120000 |
Equity Shares |
Rs. 10/- |
Rs. 1.200 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.200 |
1.200 |
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2] Reserves & Surplus |
|
0.741 |
0.966 |
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NETWORTH |
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1.941 |
2.166 |
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LOAN FUNDS |
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1] Secured Loans |
|
3.378 |
3.786 |
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2] Unsecured Loans |
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1.880 |
1.994 |
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TOTAL BORROWING |
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5.258 |
5.780 |
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TOTAL |
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7.199 |
7.946 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.226 |
2.517 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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10.772 |
11.295 |
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Total
Current Assets |
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10.772 |
11.295 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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5.799 |
5.866 |
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Total
Current Liabilities |
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5.799 |
5.866 |
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Net Current Assets |
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4.973 |
5.429 |
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TOTAL |
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7.199 |
7.946 |
KEY RATIOS
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PARTICULARS |
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31.03.2002 |
31.03.2001 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.70 |
6.37 |
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Current Ratio (Current Asset/Current Liability) |
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1.85 |
1.92 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
An electronic arm of Trade Wings Group, Digicontrols Northern Private Limited was
incepted in the year 1987. The company envisaged to offer revolutionary &
innovative products that can facilitate quick and effective communication.
Thus, the company engaged itself in manufacturing and exporting of
technologically advanced pay phone of all kinds.
The company offers product that are easy to install, reliable, user-friendly
and durable. Besides, they are also available in innovative designs and as per
the specifications of our clients. The designers and engineers constantly
engage in research to understand the challenges of the telecom industry in a
better way, and offer better products.
The company has over the years installed over 200,000 payphones in the country
and its market is growing at a fast rate with the advent of Private Basic
Service Providers.
It has its own branch offices in all major centers of India. Digicontrols has
over 150 employees dedicated just for Sales and Service. The company has over
300 dedicated dealers countrywide to ensure products are not only delivered but
also serviced in every nook and corner of the country.
Its products have not only become a huge success in the domestic market, but
also in the foreign lands such as Nepal, Bangladesh, Sri Lanka and East African
countries and Asian Countries.
Products
They manufacture and export all kinds of pay phones.
Their product line includes –
» STD/PCO Pay
Phone
» Coin Box
Telephone
» Wall Mounted
Phone
» CDMA Pay Phone
» PSTN Pay Phone
» GSM Pay Phone
» VOIP Pay Phone
» Fixed Cellular Terminal
» Prepaid Pay Phone
» Postpaid Pay Phone
» Smart Card Based Pay Phone
» Local Call Billing Machines
STD/PCO
Pay Phone
( D'Arts Economy PCO 460/MU113/42V )
Features:
- Accurate Metering
- Voice Interface
- 8000* Calls Memory
- Dual Display
- Battery Charger Circuit
- Printed Receipt
- User Friendly
- Credit Accounting
Other Features:
- Supports both Tone and Pulse dialing.
- Station display and Pulse rate display during call.
- In-built battery for internal memory backup. Built in SMPS withstands
large power fluctuations (120V to 270 V).
- Leds displayed on the console indicate Power On, Machine working on
battery, 16KHz pulse signal, Receiver off hook, Printer On/Off and Memory
full etc.
- Status/Error indicators such as Beep with every pulse, bill signal.
- Display and printout of particular calls by giving serial no., as
well as telephone no. Separate details of Local/STD/ISD calls in summary
report. Deletion of oldest day calls in case of memory full. Previous
calls summary details.
- Display/Print of specific date summary.
- Customer programmable Booth Number, Customer Address & City
Name Printout (Alpha Numeric
GSM, CDMA, PSTN, VOIP
Coin Box Telephone
Features :
- ABS Body Non Corrosion Table Top Model.
- Aesthetic appearance and user friendly.
- Low power consuming and Latest Microchip Technology.
- Self-diagnostic.
- 4 x 3 keypad for dialing with one touch re- dialing.
- LCD display shows deposited amount, dialed no., balance time.
- Programmable digit code and pulse rates for local & group dialing.
- Features are keypad programmable with electronic lock.
- Displays called number upto 16 digits.
Wall Mounted Phone
Features :
- Sturdy metallic Wall Mounted.
- Sturdy metallic Wall Mounted.
- Aesthetic appearance and user friendly.
- Low power consuming and Latest Microchip Technology.
- Self-diagnostic.
- 4 x 3 keypad for dialing with one touch re- dialing.
- LCD display shows deposited amount, dialed no., balance time.
- Programmable digit code and pulse rates for local & group dialing.
- Features are keypad programmable with electronic lock.
- Displays called number upto 16 digits
GSM, CDMA, PSTN,
VOIP, SMARTCARD
Strengths
Quality
Quality is focal point and leverage all expertise to offer high quality products. The entire manufacturing process is carefully monitored at every level and special attention is paid to the designing and finish of the products. They ensure that the products are durable, scratch-free and are heat / water / chemical resistant.
·
They adhere
to the international norms of quality.
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Their
products are innovative and designed for optimal performance.
·
They have
integrated modern technology for our manufacturing process.
·
They can also
customize products.
·
They
manufacture products keeping in mind the stipulated time frame.
Some of reputed clients are:
·
Reliance
·
Century
·
BSNL
Bankers Charges
Report as per Registry
Name of the Company : Digicontrols Northern
Private Limited
Presented by : -- Mr. Vasant Kathan, Director
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1. Date and description
of the instrument creating or evidencing the charge
|
General letter of
hypothecation dated 09.03.1998. Modified on 17.08.1999 and 25.06.2001 and
26.09.2002 of Allahabad Bank. |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 5.400
millions |
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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Hypothecation of
immovable assets of the company including book debts present and future. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
Interest 4% above
PLR minimum 18% plus intt tax quarterly Margin 25% on CC
and 50% on book debts. |
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5. Names, address
and description of the persons entitled to charge |
Allahabad Bank,
Nehru Place, New Delhi, India |
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6. Date and brief
description of instrument modifying the charge |
General letter of
hypothecation dated 25.04.2005 as per the copy enclosed herewith. |
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7. Particular of modification specifying the terms and conditions or the
extent or operation of the charge in
which modification is made and
the details of modification |
The amount secured
has been enhanced from Rs. 4.950 millions to Rs. 7.000 millions being cash
credit limit of Rs. 4.500 millions and FLC Limit of Rs. 2.500 millions,
Place, New Delhi in favour of Digicontrols Northern Private Limited as per
Letter No. AB/NP/ADV/500784/09/2004-05 dated 10.09.2004 |
Contact
B-60, Sector – 5, Noida -
201 301, Uttar Pradesh, India.
Phone. : 91-120-2421593 / 2421074 / 2421476 / 2421077
Fax : 91-120-2421406
E-mail : dgctrls@del3.vsnl.net.in
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. 44.28 |
|
UK Pound |
1 |
Rs. 86.64 |
|
Euro |
1 |
Rs. 58.10 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
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PRIVATE
& CONFIDENTIAL : This information is provided to you at
your request, you having employed MIPL for such purpose. You will use the
information as aid only in determining the propriety of giving credit and
generally as an aid to your business and for no other purpose. You will hold
the information in strict confidence, and shall not reveal it or make it known
to the subject persons, firms or corporations or to any other. MIPL does not
warrant the correctness of the information as you hold it free of any liability
whatsoever. You will be liable to and indemnify MIPL for any loss, damage or
expense, occasioned by your breach or non observance of any one, or more of
these conditions