MIRA
INFORM REPORT
|
Report Date : |
19.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
VENUS
INFOCOM PRIVATE LIMITED |
|
|
|
|
Registered Office : |
1B,
Amba Bhavan, Tara Temple Lane, Near Ganpati Mandir, Opposite Lamington Police
Station, Mumbai – 400007 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
15.01.2001 |
|
|
|
|
Com. Reg. No.: |
11-130468 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72900MH2001PTC130468 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV12814E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCV4521H |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Dealer
of Computer Peripherals |
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 : |
|
|
|
|
|
Status : |
Small
Company |
|
|
|
|
Payment Behaviour : |
Slow
but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a relatively small dealer of Computer Peripherals. Company’s profitability
is low. Payments are reported as slow but correct. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
1B,
Amba Bhavan, Tara Temple Lane, Near Ganpati Mandir, Opposite Lamington Police
Station, Mumbai – 400007 |
|
Tel. No.: |
91-22-56344144 |
|
Mobile No.: |
91-9820341135 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr.
Manish Babulal Bohra |
|
Designation : |
Director
|
|
Address : |
1B,
Amba Bhavan, Tara Temple Lane, Near Ganpati Mandir, Opposite Lamington Police
Station, Mumbai – 400007 |
|
Date of Birth/Age : |
01.03.1976 |
|
Date of Appointment : |
15.01.2001 |
|
|
|
|
Name : |
Mr.
Sanjay Babulal Bohra |
|
Designation : |
Director
|
|
Address : |
1B,
Amba Bhavan, Tara Temple Lane, Near Ganpati Mandir, Opposite Lamington Police
Station, Mumbai – 400007 |
|
Date of Birth/Age : |
31.12.1973 |
|
Date of Appointment : |
15.01.2001 |
|
|
|
|
Name : |
Mr.
Babulal Mulchand Bohra |
|
Designation : |
Director
|
|
Address : |
1B,
Amba Bhavan, Tara Temple Lane, Near Ganpati Mandir, Opposite Lamington Police
Station, Mumbai – 400007 |
|
Date of Birth/Age : |
18.07.1952 |
|
Date of Appointment : |
15.01.2001 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Manish Babulal Bohra |
4000 |
|
Mr.
Sanjay Babulal Bohra |
3000 |
|
Mr.
Babulal Mulchand Bohra |
3000 |
BUSINESS DETAILS
|
Line of Business : |
Dealer
of Computer Peripherals |
GENERAL
INFORMATION
|
Bankers : |
Indian
Bank, Vijay Chambers, Tribhuvan Road, Opposite Dream Land Cinema, Prarthana
Samaj, Mumbai – 400004 E-Mail.:
Mumbai@ssandco.net |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Salgia
& Associates Chartered
Accountant |
|
Address: |
Panthky
House, 1st Floor, 8, Maruti Cross Lane, Fort, Mumbai – 400001 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 1.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10100 |
Equity
Shares |
Rs. 10/- Each |
Rs. 0.101 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 |
|
0.101 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.686 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(0.032) |
|
|
NETWORTH |
|
0.787 |
0.068 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
26.834 |
0.000 |
|
|
2] Unsecured Loans |
|
0.013 |
0.000 |
|
|
TOTAL BORROWING |
|
26.847 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
27.634 |
0.068 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.165 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
11.458 |
|
|
|
Sundry Debtors |
|
33.609 |
|
|
|
Cash & Bank Balances |
|
1.057 |
0.068 |
|
|
Other Current Assets |
|
0.000 |
|
|
|
Loans & Advances |
|
0.836 |
|
|
Total Current Assets |
|
46.960 |
0.068 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
19.105 |
0.000 |
|
|
Provisions |
|
0.386 |
0.000 |
|
Total Current Liabilities |
|
19.491 |
0.000 |
|
|
Net Current Assets |
|
27.469 |
0.068 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
27.634 |
0.068 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other income] |
|
0.298 |
0.000 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
0.000 |
0.000 |
|
Provision
for Taxation |
|
0.000 |
0.000 |
|
Profit/(Loss)
After Tax |
|
1.119 |
(6.464) |
|
|
|
|
|
|
Total
Expenditure |
|
300.078 |
6.464 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
375.50 |
-- |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
58.87 |
-- |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.40 |
-- |
LOCAL AGENCY
FURTHER INFORMATION
Manufacturer,
Develop, Import, Export, Buy, Sell, Distribute, Transfer, Lease, Hire, License,
Use, Dispose – Off, Fabricate, Construct, Assemble, Record, Maintain, repair,
Recondition, Work, Alter, Convert, Improve, Procure, Jo Worker, Representative,
advisor or otherwise to deal in all kinds of Computer, Calculators, Information
and Data Processing Equipment, Micro Processors, Electronic and Electrical
Apparatusses, Softwear, Equipment, Gadgets, Peripherals, Modulers, Auxiliary
Instrument, Spare Parts Accessories, Devices, Components, Fixtures of Different
capacities, sizes, Specifications Applications, Descriptions and Models
Form 8 Particular for creation or modification of charges
|
Corporation identity number or foreign
company registrations number of the company
|
U72900MH2001PTC130468 |
|
Name of the company |
VENUS INFOCOM PRIVATE LIMITED |
|
Address |
1B,
Amba Bhavan, Tara Temple Lane, Near Ganpati Mandir, Opposite Lamington Police
Station, Mumbai – 400007 |
|
This Form is for |
Creation of Charge |
|
Type of Charge |
Hypothecation |
|
Particular of the charge holder |
Indian
Bank, Vijay Chambers, Tribhuvan Road, Opposite Dream Land Cinema, Prarthana
Samaj, Mumbai – 400004 E-Mail.:
Mumbai@ssandco.net |
|
Nature or description of the instrument
creating charge |
Agreement
for open Cash Credit |
|
Date of Instrument |
19.06.2006 |
|
Amount Secure by the charge |
Rs. 6.500 Millions |
|
Brief of the principal terms and
conditions |
The above charge to operate as
security for the open cash credit of Rs. 6.500 Millions, together with
interest, costs, charge and other expenses, which may accrue and be debited
to the accountant and payble by the company to the Bank from time to time Rate of Interest – 1% below the
banks prime lending Rate (BPLR) = 10.05% with monthly rests Margin – 15% Period – Upto 03.04.2007 |
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 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 |
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 |
|