MIRA INFORM REPORT

 

 

Report Date :

19.01.2007

 

IDENTIFICATION DETAILS

 

Name :

VECTRA IT SOLUTIONS PRIVATE LIMITED

 

 

Registered Office :

Vectra House Number 15, 5th Floor, 1st Main Road, 6th Cross, Gandhinagar, Bangalore – 560009, Karnataka, India

 

 

Country :

India

 

 

Financials (as on) :

-----

 

 

Date of Incorporation :

04.05.2006

 

 

Com. Reg. No.:

08-39232

 

 

CIN No.:

[Company Identification No.]

U72200KA2006PTC039232

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRV05562E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The subject is engaged in the business of promoting, operating, undertaking, managing and carrying on in India or else where the business of development of computer software, information technology products and providing services of all kinds related to information technology, computer software, internet, world wide web e-training, e-commerce, e-business, robotics, RFID (Radio Frequency Identification Devices), Wire Less technology, automation, data processing, manipulation and conversion, training, business systems including software and hardware services related to avionics, defence and all other kinds of industry.

 

 

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

 

Maximum Credit Limit :

 

 

 

Status :

New company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company and a part of Vectra Group, a small sized group in a south India.

 

Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. No payment are available.

 

The company can be considered for small business dealings on safe and secure trade terms and conditions.

 

LOCATIONS

 

Registered Office :

Vectra House Number 15, 5th Floor, 1st Main Road, 6th Cross, Gandhinagar, Bangalore – 560009, Karnataka, India

Tel. No.:

91-80-22207736

 

DIRECTORS

 

Name :

Mr Ashok Kumar

Designation :

Director

Address:

108-B, 24th Cross, II Block, Rajajinagar, Bangalore – 560010, Karnataka, India

Date of Birth/ Age:

12.12.1964

Date of Appointment

04.05.2006

Directorship in other Companies:

CIN of the company

U34300KA2006PTC038760

Name of the company

Global Offset Exchange Private Limited

Designation

Director

 

 

Date of Birth/Age :

Mr Rohit Hans

Qualification :

Director

Address:

B-461, New Friends Colony, New Delhi – 110065, India

Date of Birth/ Age:

18.11.1955

Date of Appointment

04.05.2006

Directorship in other Companies:

CIN of the company

U34300KA2006PTC038760

Name of the company

Global Offset Exchange Private Limited

Designation

Director

 

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

No. of Shares

 

Vectra Investments

9990

 

Mr Ashok Kumar

10

 

 

BUSINESS DETAILS

 

Line of Business :

The subject is engaged in the business of promoting, operating, undertaking, managing and carrying on in India or else where the business of development of computer software, information technology products and providing services of all kinds related to information technology, computer software, internet, world wide web e-training, e-commerce, e-business, robotics, RFID (Radio Frequency Identification Devices), Wire Less technology, automation, data processing, manipulation and conversion, training, business systems including software and hardware services related to avionics, defence and all other kinds of industry.

 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

1,00,000

Equity Shares

Rs 10/- each

Rs 1.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10,000

Equity Shares

Rs 10/- each

Rs 0.100 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Financials are not given.

 

 

LOCAL AGENCY FURTHER INFORMATION

 

The subject is engaged in the business of all forms of hardware design, development, manufacture, buy, sell, exchange, alter or improve, import, export, hardware, assembly, turnkey, project implementation, software exports including intermediate products, development tools for eg. Compilers, debuggers, emulators, real time operating systems, microprocessors, microcontrollers, dSPs, etc. or any kind of software, overseas development, executing services contracts, hardware exports, recruiting  and providing technical personnel for both Indian and overseas clients both onsite and offsite providing technical product support, online services,  internet services, point-of-sale software solutions, system integration, to establish computer communications systems, computer networks, LAN/WAN/wireless network installation and integration, telecommunication set up to design and develop computer animation, audio/video, computer multimedia, development and other development in the field of information Technology.

 

 

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.44.25

UK Pound

1

Rs.87.30

Euro

1

Rs.57.36

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

--

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

--

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

12

 

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

 

 

 

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