MIRA INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION DETAILS
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Correct Name : |
SILVERLINE INFOCOM |
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Registered Office : |
2,
Shreeji Palace, Near Navrang High School, Naranpura, Ahmedabad – 380013,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Year of Incorporation : |
2000 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Trading
in Computers, Hardware & Software, Peripherals etc |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 25000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. Financial position is satisfactory. Payments are usually correct and as
per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office/
Showroom : |
2,
Shreeji Palace, Near Navrang High School, Narangpura, Ahmedabad – 380013,
Gujarat, India. |
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Area : |
3000
sq.ft. |
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Premises : |
Rented |
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Administrative Office : |
12,
Utsav Raw House, Surdhara Circle, Thaltej Road, Ahmedabad – 380059 |
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Tel. No.: |
91-79-26852267 |
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Mobile No.: |
91-9327012382 |
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E-Mail : |
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Website : |
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Godown : |
A/8,
Neelam Park Co operative Housing Society, Opp. Vrundavan Complex, Near
Subhash Chowk, Gurukul Road, Memnagar, Ahmedabad – 380052, Gujarat, India. |
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Tel. No.: |
91-79-2745802/
27432228/ 27448180 |
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Fax No.: |
91-79-27458021 |
PARTNERS
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Name : |
Mr.
Navdeep Kaushal Prasad Goyal |
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Designation : |
Partner
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Address : |
21,
Sudarshan Society, Part – II, Naranpura, Ahmedabad – 380013 |
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Name : |
Mrs.
Manisha Navdeep Goyal |
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Designation : |
Partner
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Address : |
21,
Sudarshan Society, Part – II, Naranpura, Ahmedabad – 380013 |
OTHER PERSONNEL
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Name : |
Mr.
Rajesh Shah |
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Designation : |
Marketing
Manager |
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Name : |
Mr.
Nirav Chauhan |
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Designation : |
Services |
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Name : |
Mr.
Kamal Pithadiya |
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Designation : |
Accounts |
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Name : |
Mr.
Tejas Khatri |
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Designation : |
Manager
(Delivery department.) |
BUSINESS DETAILS
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Line of Business : |
Trading
in Computers, Hardware & Software, Peripherals, etc |
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Products : |
Cemara,
Display Cards, Fdd, Hard Disk, Head Phone, Keyboard, Memory, Modem, Monitor,
Motherboard, Mouse, Multimedia, Network Cards, Odd, Power, Printer,
Processor, Scanner, Software, Speaker, TV Tuner Card and Zip Drive |
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Imports from : |
U.S.A,
Japan and Korea |
GENERAL INFORMATION
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Suppliers : |
v
IBM v
Intel v
LG v
Samsung v
Compaq v
Sagate |
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No. of Employees : |
27 |
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Bankers : |
Canara
Bank Narangpura,
Ahmedabad – 380013, Gujarat, India. |
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Facilities : |
Rs.
2.500 millions |
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Banking Relations : |
Good |
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Auditors : |
Nilesh
Patel Chartered
Accountants |
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Associates : |
Silverline
Infotech Private Limited Date
of Incorporation : 10th July, 2000 Company
Registration No. : 04-32328 Annual
Turnover : Rs.200.000 millions. |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000
millions |
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Borrowed : |
0.000 |
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Total : |
Rs.5.000
millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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490.000 |
500.000 |
Expected
Sales (March 2007) : Rs.490.000 millions
LOCAL AGENCY FURTHER INFORMATION
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.44.21 |
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UK
Pound |
1 |
Rs.87.48 |
|
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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51 |
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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