MIRA
INFORM REPORT
|
Report Date : |
20.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
RASAN
INFOCOM PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
RASAN
WATERFIELDS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
4, Gold Palms, Dilip Gupte Road, Matunga
(West), Mumbai-400016, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
07.04.1995 |
|
|
|
|
Com. Reg. No.: |
04-25414 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U26941GJ1995PTC025414 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTR01358A |
|
|
|
|
Legal Form : |
Private
Limited Liability Company. |
|
|
|
|
Line of Business : |
To carry
on the business of Aquaculture in all its aspects and branches such as
farming, cultivation, culturing, manufacturing, harvesting or any other means
and for that purpose to purpose to procure seashore areas, lakes, for
breeding various types of fish, etc. |
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 : |
USD
5000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 : |
4, Gold Palms, Dilip Gupte Road, Matunga (West), Mumbai-400016,
Maharashtra, India |
|
Tel. No.: |
91-22-2444 8791/92/93 |
|
Fax No.: |
91-22-2444 8790 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Ms.
Sandhya Rajesh Solanki |
|
Designation : |
Director
|
|
Address : |
Beersheba
House, Near Catholic Church, Valsad - 396001, Gujarat, India |
|
Date of Birth/Age : |
04.07.1969 |
|
Date of Appointment : |
26.12.1994 |
|
|
|
|
Name : |
Mr.
Rajesh Ramnik Solanki |
|
Designation : |
Director
|
|
Address : |
Beersheba
House, Near Catholic Church, Valsad - 396001, Gujarat, India |
|
Date of Birth/Age : |
25.05.1967 |
|
Date of Appointment : |
26.12.1994 |
|
|
|
|
Name : |
Mr.
Shantilal Napubhi Shah |
|
Designation : |
Director
|
|
Address : |
17/H,
Pannalal Terrace, 3rd Floor, Grant Road, Mumbai – 400007,
Maharashtra, India |
|
Date of Appointment : |
01.08.1996 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Ms.
Sandhya Rajesh Solanki |
|
5110 |
|
Mr.
Rajesh Ramnik Solanki |
|
44890 |
|
Total |
|
50000 |
BUSINESS DETAILS
|
Line of Business : |
To
carry on the business of Aquaculture in all its aspects and branches such as
farming, cultivation, culturing, manufacturing, harvesting or any other means
and for that purpose to purpose to procure seashore areas, lakes, for
breeding various types of fish, etc. |
GENERAL
INFORMATION
|
Bankers : |
Bank
of India, Nana Chowk Branch, Ground Floor, Mansion, Near Shstri Hall, Mumbai
– 400007 |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Deepakkumar
A Joshi and Company Chartered
Accountants |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
RS. 0.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.113 |
0.113 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.867 |
0.624 |
0.450 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.367 |
0.737 |
0.563 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.384 |
0.762 |
0.671 |
|
|
2] Unsecured Loans |
0.003 |
0.498 |
0.560 |
|
|
TOTAL BORROWING |
1.387 |
1.260 |
1.231 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.754 |
1.997 |
1.794 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.153 |
0.226 |
0.146 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.276 |
0.238 |
0.134 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.861
|
2.204 |
|
|
|
Sundry Debtors |
2.699
|
1.843 |
|
|
|
Cash & Bank Balances |
0.020
|
0.120 |
5.769 |
|
|
Other Current Assets |
0.201
|
0.159 |
|
|
|
Loans & Advances |
1.392
|
1.260 |
|
|
Total Current Assets |
5.173
|
5.586 |
5.769 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3.848
|
4.055 |
4.259 |
|
|
Provisions |
|
|
|
|
Total Current Liabilities |
3.848
|
4.055 |
4.259 |
|
|
Net Current Assets |
1.325
|
1.531 |
1.510 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
2.754 |
1.997 |
1.794 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other
income] |
|
13.903 |
12.191 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
0.427 |
0.281 |
|
Provision
for Taxation |
|
0.135 |
0.090 |
|
Profit/(Loss)
After Tax |
|
0.292 |
0.191 |
|
|
|
|
|
|
Total
Expenditure |
|
13.476 |
11.910 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
2.10
|
1.57 |
-- |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
3.07
|
2.30 |
-- |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
6.75
|
4.83 |
-- |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.38 |
-- |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
3.83
|
7.21 |
9.75 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.34
|
1.38 |
1.35 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
has shifted from Beersheba House, Near Catholic Church, Valsad - 396001,
Gujarat, India to above address.
Business
To carry
on the business of Aquaculture in all its aspects and branches such as farming,
cultivation, culturing, manufacturing, harvesting or any other means and for
that purpose to purpose to procure seashore areas, lakes, for breeding various
types of fish, such as prawns, shrimps, lobsters, brackinshwater creatures and
any other crustaceous animals and aquatic products and to carry on the business
of sea fishing, back water fishing, brackish water culturing, and to process
the fish filleting, skinning meat dicking, drying boiling and preparing the
same for sale and delivery and preparing the same for sale and delivery in
export as well as domestic market and also to carry on the business as
agriculturists, floriculturists, farmers, Planters, grower, cultivators, horticulturists,
producers, in all respect of farming and its branches and to acquire, improve,
develop, etc.
To
establish branches and appoint and act as agent, and as representative anywhere
for business of the company.
To
establish, provide, maintain and conduct or otherwise subsides, research
laboratories and experimental workshops.
|
Name of the company |
Rasan Waterfields Private Limited
[Division - Infocom Electronic
System] |
|
Presented By |
Bank of India, Nana Chowk Branch Mumbai – 400007
and Rasan Waterfields Private Limited |
|
1) Date and description of instrument creating the change |
11.03.2005
Agreement of Hypothecation of Tangible Movable Machinery and Plant |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 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 |
All
tangible movable machinery and plant both present and future whether installed
or not any where lying loose or in cases at site or in or which may at any
time during the continuance of this security be installed or lying loose or
in case or being in or upon or about Borrower premises godowns at Mumbai or
wherever else the same may be held by any party anywhere to the order and
disposition of the borrower or in course transit to the borrower. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The security
and charge created shall be a security by way of first charge for due
repayment to the Bank at any time on demand at Mumbai where the accommodation
is by way of loan on the said sum of Rs. 0.500 Millions or the balance
thereof for loan of the said outstanding and where by cash credit of the
balance of cash credit account with interest in either case at the rate
herein after provided and all cost charges and expense future indebtedness
and liabilities of the borrower to the bank of any kind in any manner whether
solely or Jointly primary or collateral accrued or accruing with all relative
interest, chares, costs and expenses. Interest
at the rate of 3.25 % p.a. over BOIBPLR presently 14 % p.a. or at such rate
as may from time to time be fixed by the bank and notified to the borrower. Margin
50 % or as fixed by the bank form time to time. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank
of India, Nana Chowk Branch, Ground Floor, Mansion, Near Shstri Hall, Mumbai
– 400007 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Name of the company |
Rasan Waterfields Private Limited
[Division - Infocom Electronic
System] |
|
Presented By |
Bank of India, Nana Chowk Branch Mumbai –
400007 |
|
1) Date and description of instrument creating the change |
Hypothecation
of Tangible Movable Property |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.300 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 Channel
Switcher, Shutter Guard, Local Panic Switches, 4 Channel A/V, Switcher, 16
channel Colour Simplex Multiplexes etc. and also all producers goods and any
every tangible movable property of the borrower whether now lying or at any
time hereafter during the continuance of this security lying or being in or
about the borrower premises and Godown at Mumbai of wherever else the same
may be or be held be any party anywhere to the order and disposition of the
borrower or in course of transit to the borrower. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
at the rate of 4 % p.a. over BOIBPLR presently 16.50 % p.a. or at such rate
as may from time to time be fixed by the bank and notified to the borrower
for the Cash credit stock limit of Rs. 0.300 Millions granted by the bank to
the company. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank
of India, Nana Chowk Branch, Ground Floor, Mansion, Near Shstri Hall, Mumbai
– 400007 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Name of the company |
Rasan Waterfields Private Limited
[Division - Infocom Electronic
System] |
|
Presented By |
Bank of India, Nana Chowk Branch Mumbai –
400007 |
|
1) Date and description of instrument creating the change |
Charge
and Hypothecation of Book Debts |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 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
and charge to the bank all the borrower book debts, outstanding, moneys
receivable, claims and bills which are now due and owing or which may at any
time hereafter during the continuance of this security become due and owing
to the borrower in the course of its business by any person company or by the
government or any local or public body or authority. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
at the rate of 4 % p.a. over BOIBPLR presently 16.50 % p.a. or at such rate
as may from time to time be fixed by the bank and notified to the borrower
for the Cash credit stock limit of Rs. 0.300 Millions granted by the bank to
the company. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of
India, Nana Chowk Branch, Ground Floor, Mansion, Near Shstri Hall, Mumbai –
400007 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
As per Website
Management
Rasan Infocom (P) Limited was formally set up under the
leadership of Rajesh Solanki in 1996, a young and dynamic first generation
entrepreneur with engineering and MBA background. Rajesh Solanki has rich
experience in promoting, setting up and managing technology companies and his
expertise spans strategic planning, product/business development and marketing.
He is the driving force of the group’s strategic direction and marketing focus.
Rajesh Solanki is an active member of BMA (Bombay Management Association) and
The Indus Entrepreneurs. He has published several articles in Financial
Express, Computer Express and is a regular writer for IndiaSafe Magazine.
Anees Mir is the President & Chief Technology
Officer for software development of Rasan Infocom (P) Limited Anees, with his engineering
background brings several years of technology experience and knowledge of
software development to Infocom.His ability in strategic information systems
planning, system analysis and software project management has contributed in
providing complex and advanced software products for various industry
verticals.
Company
Global Presence … Local support
Trusted by over 45,000 Customers since inception,
The people at INFOCOM
Average age 30-35 years
80% Technically qualified
Average domain experience 6 years
High Quality Software Development Team
Prime Business Alliances
VISCOUNT MESH for Home Automation & Door Entry
System
IMAGE-INSPECT for Pipe Inspection Systems
EVERFOCUS Taiwan for CCTV
KOCOM Korea for Home Automation and Video Door phones
Their success line
Key for Success in Distribution is Support to
VARs/Integrators
Specialized dedicated technical support team
Specialized dedicated sales support team
Reasonable pricing, logistics & good after sale
service
Solution Development
PRODUCTS & BUSINESS OVERVIEW
- Network Video Product
- Energy Monitoring
- Access Control System
- Video Door Phone, Home Automation
- DVRS & CCTV Products
- Pipe Inspection System
- Door Entry System
- Software Development
BUSINESS FAMILY
- D-link is a
manufacturer of Network Video Products.
They are exclusive strategic Business Partner for
Sales Distribution and
Software Development of Video Products for Security
Industry In India.
- Everfocus is a
manufacturer of cctv and access control, incorporated in 1995,
offices in Europe, Japan, USA, China, Taiwan.
- Kocom is a
manufacturer of Video Door Phone Systems, 17th largest
Security company, R&D, office and factory in S
Korea
- Viscount is
based in Vancouver, Canada. Over 2 Million North Americans
living in 30000 apartment buildings are secured by
Viscount equipment
- Image-Inspect
is based in Calgary, Canada and specializes in water and
sewerage pipe inspection and video recording systems.
These are being
used by Mumbai Municipality in India
LIMITED REFERENCE LIST
Network Video Product
Pantaloon Retail (India) Limited
CCTV
Thermax (Phillipines), Hindustan Dorr Oliver (Russia),
Mahindra and Mahindra, Crompton Greaves, Raymonds
Access Control
Hindustan Lever, KEC International, L’Oreal
Video Door Phones
K Raheja Universal, Evershine, Kalpataru
Mesh
Suncity builders, Keystone Realtors
Pipe Inspection
Bombay Municipal Corporation
Energy Management
GMC, Germany
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.87.61 |
|
Euro |
1 |
Rs.57.61 |
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 |
4 |
|
--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 |
|