MIRA
INFORM REPORT
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Report Date : |
24.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
NOVO
COMPUTERS PRIVATE LIMITED |
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Registered Office : |
XIX /
514 F, Rwo Star Building, Thynothil Road, Aluva – 683101, Kerala |
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Country : |
India |
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Financials (as on) : |
-- |
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Date of Incorporation : |
14.05.1996 |
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Com. Reg. No.: |
09-10379 |
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CIN No.: [Company
Identification No.] |
U72200KL1996PTC010379 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
manufacture, buy, sell, import, export, service, lease out and deal in
computers, peripherals and computer stationery. |
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 : |
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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 dealer of computer peripherals. 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
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Registered Office : |
XIX /
514 F, Rwo Star Building, Thynothil Road, Aluva – 683101, Kerala, India |
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Head
Office : |
43/420
B, Kolleth Lane, Kaloor-Kadvanthara Road, Kadavanthra, Cochin - 682020,
Kerala, India |
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Tel.
No.: |
91-484-2205098
/ 2204916 |
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Mobile
No.: |
91-9847724890
/ 9447057388 |
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E-Mail
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DIRECTORS
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Name : |
Mr.
Biju Varghese |
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Designation : |
Managing
Director |
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Address : |
Chittinappilly
House, Paduapuram P. O., Karukutty,
Ernakulam – 683101, Kerala |
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Date of Birth/Age : |
30.05.1971 |
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Date of Appointment : |
14.05.1996 |
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Name : |
Mr.
Annies Varghese |
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Designation : |
Director
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Address : |
Chittinappilly
House, Paduapuram P. O., Karukutty,
Ernakulam – 683101, Kerala |
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Date of Birth/Age : |
15.01.1947 |
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Date of Appointment : |
31.05.1997 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Biju Varghese |
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400 |
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Mr.
Annies Varghese |
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600 |
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Total |
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1000 |
BUSINESS DETAILS
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Line of Business : |
To
manufacture, buy, sell, import, export, service, lease out and deal in
computers, peripherals and computer stationery. |
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GENERAL
INFORMATION
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Bankers : |
The
Federal Bank Limited, Thottakkattukara,
P. O., Alwaye
– 683108 |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.100 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.100 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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Not Available |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
NOVO COMPUTERS PRIVATE LIMITED |
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Presented By |
P. Gopakumar , Manager, The Federal Bank
Limited, Thottakkattukara, P. O., Alwaye – 683108 |
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1) Date and description of instrument creating the change |
Agreement
for Federal Vanijya Loan Scheme dated 28.06.1999 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions |
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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
the movables, present and future including the movables that may be acquired
and possed by the borrower in future namely Stock in trade of Electronic
Goods, Electrical Goods, Book, Debts etc. belonging to or in the possession
or under the control of the borrowers, where in possession of borrower or of
the bank or of any third party, wherever else the same may be including such goods,
movables and other assets as may be in course of shipment, transit ort
delivery. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
at the PLR fixed by the Bank form time to time which is currently @ 14 % +
interest tax as applicable which is presently @ 19.38 % Repayable
on Demand. |
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5) Name and Address and description of the person entitled to the charge. |
The
Federal Bank Limited, Thottakkattukara,
P. O., Alwaye
– 683108 |
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6) Date and brief description of instrument modifying the charge |
Agreement
of Cash credit / overdraft / demand loan dated 23.06.2004 |
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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. |
On
23.06.2004 the existing cash credit limit of Rs. 1.500 Millions was enhanced
to Rs. 2.500 Millions. The
existing charged on the goods, product, merchandise and any other stocks
namely computers, computers which now other accessories of computers which
now or hereafter form time to time during this security shall be brought into
stored or be in or about borrowers godowns or premises at Alwaye and
Ernakulam in building bearing Nos. 2 star in Thynithil Road, Aluva
Muncipality, Cochin – 20 or wherever else the same may be and , All
the borrowers present and future book debts, outstanding moneys receivables,
claims, contracts engagements, claims, contracts deposits, rights and assets
were extended to the enhanced cash credit limit of Rs. 2.500 Millions Interest
rate was revised to 13.5% p.a. |
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Name of the company |
NOVO COMPUTERS PRIVATE LIMITED |
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Presented By |
P. Gopakumar , Manager, The Federal Bank
Limited, Thottakkattukara, P. O., Alwaye – 683108 |
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1) Date and description of instrument creating the change |
Agreement
for Negotiable Instruments purchased / discounted dated 26.09.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.200 Millions |
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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 |
Lien
on bills and the money received there under and goods in course of transit
covered by the documents of title to goods or other documents. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
@ 17.5 % p.a. with quarterly rests,. Repayable
on demand. |
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5) Name and Address and description of the person entitled to the charge. |
The
Federal Bank Limited, Thottakkattukara,
P. O., Alwaye
– 683108 |
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6) Date and brief description of instrument modifying the charge |
Agreement
for Negotiable instruments purchased / discounted dated 23.06.2004 |
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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. |
On
23.06.2004 the existing loan limit of Rs. 0.200 Millions was enhanced to Rs.
0.500 Millions Hypothecation of goods stored
in premises bearing building No. 2 star building in Thynothil Road,
Aluva Municipality and hypothecation of stock in trade, finished goods stored
anywhere else stored anywhere else and belonging to the borrower and book
debts, bills receivables, goods in transit were extended to the enhanced loan
limit of Rs. 0.500 Millions Interest
rate was revised to 14.75 % p.a. with quarterly rests. |
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.21 |
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UK
Pound |
1 |
Rs.87.48 |
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Euro |
1 |
Rs.57.23 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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