MIRA
INFORM REPORT
|
Report Date : |
08.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SURBHI
BROADBAND PRIVATE LIMITED |
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|
|
|
Formerly Known as : |
AISHWARYA
COMMUNICATIONS PRIVATE LIMITED |
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Registered Office : |
C -
73, West Jyoti Nagar Extention, Delhi – 110094, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.12.1999 |
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Com. Reg. No.: |
35-102757 |
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CIN No.: [Company
Identification No.] |
U32109DL1999PTC102757 |
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|
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS23812F |
|
|
|
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PAN No.: [Permanent
Account No.] |
AAGCS5405A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of high-bandwidth cables and wires for Telecommunications |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD20000 |
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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 Office: |
C -
73, West Jyoti Nagar Extention, Delhi – 110094, India |
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E-Mail: |
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Corporate Office : |
E -
27, Sector – 6, Noida – 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4320672
/ 73 |
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Fax No.: |
91-120-2422082 |
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E-Mail : |
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Website : |
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Manufacturing
Unit : |
A-10,
sector- 5, Noida – 201301, Uttar Pradesh, India |
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Tel.
No.: |
91-120-2421930
/ 31 |
DIRECTORS
|
Name : |
Mrs.
Shashi Aggarwal |
|
Designation : |
Director |
|
Address : |
C-266,
Vivek Vihar, New Delhi – 110095, India |
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Date of Birth/Age : |
06.06.1945 |
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Date of Appointment : |
19.12.1999 |
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|
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Name : |
Mrs.
Dolly Garg |
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Designation : |
Director |
|
Address : |
C-266,
Vivek Vihar, New Delhi – 110095, India |
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Date of Birth/Age : |
20.12.1970 |
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Date of Appointment : |
19.12.1999 |
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|
|
|
Name : |
Mr.
Alok Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
C-266,
Vivek Vihar, New Delhi – 110095, India |
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Date of Birth/Age : |
01.05.1967 |
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Date of Appointment : |
28.02.2002 |
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|
|
|
Name : |
Mrs.
Rekha Aggarwal |
|
Designation : |
Director |
|
Address : |
C-266,
Vivek Vihar, New Delhi – 110095, India |
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Date of Birth/Age : |
28.06.1970 |
|
Date of Appointment : |
29.07.2002 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mrs.
Shashi Aggarwal |
35783 |
17.29 |
|
Mrs.
Dolly Garg |
13100 |
6.33 |
|
Mrs.
Suchi Jain |
1 |
0.00 |
|
Mr.
Alok Kumar Aggarwal |
79000 |
38.18 |
|
Mrs.
Rekha Aggarwal |
79000 |
38.18 |
|
Mrs.
Krishna Jain |
1 |
0.00 |
|
Mr.
Rajender Kumar Singhal |
1 |
0.00 |
|
Mrs.
Vandna Tayal |
1 |
0.00 |
|
Mrs.
Manju Rani |
1 |
0.00 |
|
Mrs.
Neelima Gupta |
1 |
0.00 |
|
D.
Jain Chils Private Limited |
1 |
0.00 |
|
Mr.
Subodh Garg |
1 |
0.00 |
|
Ms.
Kavita Bohra |
1 |
0.00 |
|
Ms.
Prabha Bohra |
1 |
0.00 |
|
Mr.
Vimal Bohra |
1 |
0.00 |
|
Ms.
Sanju Devi Baridia |
1 |
0.00 |
|
Mr.
Hira Lal Jain |
1 |
0.00 |
|
Ms.
Shakuntala Jain |
1 |
0.00 |
|
Aerostar
Helmet Limited |
1 |
0.00 |
|
Mr.
Magan Mal Jain |
1 |
0.00 |
|
Ms.
Pushpa Devi Singhania |
1 |
0.00 |
|
Total |
206900 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of high-bandwidth cables and wires for telecommunications |
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Products : |
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GENERAL
INFORMATION
|
Bankers : |
Canara
Bank, Fountain, New Delhi |
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Banking Relations : |
Regular |
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|
|
|
Auditors : |
Mr. T.
K. Gupta Chartered
Accountants 4228/1, Ansari Road, Darya Ganj, New Delhi
– 110002 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2,50,000 |
Equity
Shares |
Rs 10 /- each |
Rs. 2.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2,06,900 |
Equity
Shares |
Rs 10 /- each |
Rs. 2.069 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
|
2.069 |
2.069 |
|
2] Share Application Money |
|
0.000 |
0.000 |
|
3] Reserves & Surplus |
|
3.116 |
1.255 |
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH |
|
5.185 |
3.324 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
15.945 |
8.024 |
|
2] Unsecured Loans |
|
1.460 |
5.823 |
|
TOTAL BORROWING |
|
17.405 |
13.847 |
|
DEFERRED TAX LIABILITIES |
|
0.153 |
0.116 |
|
|
|
|
|
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TOTAL |
|
22.743 |
17.287 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.047 |
1.543 |
|
Capital work-in-progress |
|
---- |
---- |
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|
INVESTMENT |
|
0.000 |
0.805 |
|
DEFERREX TAX ASSETS |
|
---- |
---- |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
|
23.539 |
11.560 |
|
Sundry Debtors |
|
0.000 |
0.000 |
|
Cash & Bank Balances |
|
3.990 |
1.019 |
|
Other Current Assets |
|
17.452 |
18.213 |
|
Loans & Advances |
|
3.379 |
1.364 |
|
Total Current Assets |
|
48.360 |
32.156 |
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
Current Liabilities |
|
26.598 |
16.886 |
|
Provisions |
|
1.066 |
0.331 |
|
Total Current Liabilities |
|
27.664 |
17.217 |
|
Net Current Assets |
|
20.696 |
14.939 |
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
|
---- |
---- |
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|
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TOTAL |
|
22.743 |
17.287 |
LOCAL AGENCY
FURTHER INFORMATION
SURBHI
is a world-renowned name in design and manufacture of high-performance,
high-bandwidth cables and wires for telecommunications. We are the world's
largest manufacturers of Co-axial cable, Telephone Cable, Multi Core Cable,
Computer/Shielded Cable, Tele Communication Cable etc. We are also
manufacturing Cable for CDMA and COR-DECT WLL System. We have been approved by the
TEC for the supply of Feeder Cable.
Our main products include all types of Network Cables,
Connectors, Accessories, Antennas, Directional Antennas, and Omni Directional
antennas. They have passed various electrical and environmental tests by
DEPARTMENT OF TELE- COMMUNICATION.
The Company's objective is to provide diversified products and services to its
customers with a feel of the market and through highly effective management
system.
|
Name of the company |
SURBHI BROADBAND PRIVATE LIMITED |
|
Presented By |
CANARA BANK, FOUNTAIN, DELHI – 110006 |
|
1) Date and description of instrument creating the change |
Cash
credit agreement dated 07.07.2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 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 |
Hypothecation
of whole of the borrower’s present and future stocks of raw-materials,
finished and manufactured goods and articles such as electrical goods
together with all stores, components and spares now lying or hereafter stored at company’s factory, godowns
and/or other premises at 71, Angoori Bagh, Near Red Fort, Delhi – 110006 or
at any other places including those in transit and all of the borrower’s
present and future book-debts, outstanding monies, receivables, claims,
bills, rights to or in movable properties and movable assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The
above is to secure a cash credit limit of Rs 1.000 Millions granted to the
company. Interest
is to be charged at 2.54% p.a. over on going PLR of the bank with a minimum
of 14.54% p.a. compounded quarterly or at such rate(s) as may be specified by
the bank from time to time above the interest of 2% p.a. over and above the
interest charged in the account in case of default. Margin
: as may be stipulated by the from time to time. Payable on demand. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, Fountain, Delhi – 110006 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
|
Name of the company |
SURBHI BROADBAND PRIVATE LIMITED |
|
Presented By |
CANARA BANK, FOUNTAIN, DELHI – 110006 |
|
1) Date and description of instrument creating the change |
Agreement
for discounting of supply bills dated 25.10.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
4.483 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 |
First
charge over the amount receivables by the borrower in respect of supplies
made to the purchase from time to time against which the borrower has drawn
bills or any other similar type instruments and obtained advances from bank
thereon. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The
above is to supply bills (ST) limit of Rs 4.483 Millions. Interest @ 4.5 %
p.a. above ongoing PLR with a minimum of 15.25% p.a. or at such other rates
as may be specified by the bank from time to time. Period of 45 days. Margin
@ 25%. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, Fountain, Delhi – 110006 |
|
6) Date and brief description of instrument modifying the charge |
Nil. |
|
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. |
Nil. |
|
Name of the company |
SURBHI BROADBAND PRIVATE LIMITED |
|
Presented By |
CANARA BANK, FOUNTAIN, DELHI – 110006 |
|
1) Date and description of instrument creating the change |
Cash
credit agreement dated 07.07.2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 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 |
1]
Hyothecation of whole of the borrower’s present and future stocks of
raw-materials, goods in process of manufactured goods and articles such as
electrical goods together with all stores, components and spares now lying or
hereafter stored at company’s
factory, godowns and/or other premises at 71, Angoori Bagh, Near Red Fort,
Delhi – 110006 or at any other places including those in transit or delivery. 2] All
of the borrower’s present and future book-debts, outstanding monies,
receivables, claims, bills, rights to or in movable properties and movable
assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The
above is to secure a cash credit limit of Rs 1.000 Millions granted to the
company.Interest is to be charged at 2.54% p.a. over on going PLR of the bank
subject to a minimum of 14.54% p.a. compounded quarterly or at such rate(s)
as may be specified by the bank from time to time. Margin
: As may be stipulated by the bank from time to time. Payable on demand. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, Fountain, Delhi – 110006 |
|
6) Date and brief description of instrument modifying the charge |
Agreement
regarding collateral security dated 30.11.2005 |
|
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. |
Nil. |
|
Name of the company |
SURBHI BROADBAND PRIVATE LIMITED |
|
Presented By |
CANARA BANK, FOUNTAIN, DELHI – 110006 |
|
1) Date and description of instrument creating the change |
Cash
credit agreement dated 07.07.2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 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 |
1]
Hyothecation of whole of the borrower’s present and future stocks of
raw-materials, goods in process of manufactured goods and articles such as
electrical goods together with all stores, components and spares now lying or
hereafter stored at company’s factory, godowns and/or other premises at 71,
Angoori Bagh, Near Red Fort, Delhi – 110006 or at any other places including
those in transit or delivery. 2] All
of the borrower’s present and future book-debts, outstanding monies,
receivables, claims, bills, rights to or in movable properties and movable
assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The
above is to secure a cash credit limit of Rs 1.000 Millions granted to the
company. Interest is to be charged at 2.54% p.a. over on going PLR of the bank
subject to a minimum of 14.54% p.a. compounded quarterly or at such rate(s)
as may be specified by the bank from time to time. Margin
: As may be stipulated by the bank from time to time. Payable on demand. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, Fountain, Delhi – 110006 |
|
6) Date and brief description of instrument modifying the charge |
Supplemental
Agreement dated 29.11.2005 |
|
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. |
Nil. |
|
Name of the company |
SURBHI BROADBAND PRIVATE LIMITED |
|
Presented By |
CANARA BANK, FOUNTAIN, DELHI – 110006 |
|
1) Date and description of instrument creating the change |
Cash
credit agreement dated 07.07.2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 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 |
1]
Hyothecation of whole of the borrower’s present and future stocks of
raw-materials, goods in process of manufactured goods and articles such as
electrical goods together with all stores, components and spares now lying or
hereafter stored at company’s factory, godowns and/or other premises at 71,
Angoori Bagh, Near Red Fort, Delhi – 110006 or at any other places including
those in transit or delivery. 2] All
of the borrower’s present and future book-debts, outstanding monies,
receivables, claims, bills, rights to or in movable properties and movable
assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The
above is to secure a cash credit limit of Rs 1.000 Millions granted to the
company. Interest is to be charged at 2.54% p.a. over on going PLR of the
bank subject to a minimum of 14.54% p.a. compounded quarterly or at such
rate(s) as may be specified by the bank from time to time. Margin
: As may be stipulated by the bank from time to time. Payable on demand. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, Fountain, Delhi – 110006 |
|
6) Date and brief description of instrument modifying the charge |
Letter
regarding conversion of Adhoc Limit into Regular Limit dated 29.11.2005 |
|
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. |
Nil. |
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.44.30 |
|
UK
Pound |
1 |
Rs.85.83 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
45 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |
|