MIRA INFORM REPORT

 

 

Report Date :

22nd January, 2007

 

IDENTIFICATION DETAILS

 

Name :

OBEL COMPUTERS PRIVATE LIMITED

 

 

Registered Office :

NO. 7, Ground Floor, Jaya Mansion, Next to Hotel heritage, CTC, Park Lane, S D Road, Secunderabad – 500 003, Andhra Pradesh, India.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2003

 

 

Date of Incorporation :

02.06.1999

 

 

Com. Reg. No.:

01-31820

 

 

CIN No.:

[Company Identification No.]

U72200AP1999PTC031820

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDO00174G

 

 

PAN No.:

[Permanent Account No.]

AAACO3677J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

To carry on deal as traders, distributors, dealers, agents and manufacturers, service, training, and develop all types of computers, computers software, hardware and tele communication equipment.

 

Manufacturer of Computers and related products.

 

 

 

 

 

 

 

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 :

USD 42000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having moderate trade. Trade relations are fair. Profit margin is under severe pressure. Payments are reported as slow but correct.

 

The company can be considered normal for business dealings at usual trade terms and conditions with same caption.

 

LOCATIONS

 

Registered Office :

NO. 7, Ground Floor, Jaya Mansion, Next to Hotel heritage, CTC, Park Lane, S D Road, Secunderabad – 500 003, Andhra Pradesh, India.

Tel. No.:

91-40-27811701/ 55382320/ 27846035

Mobile No.:

91-9849022498

Fax No.:

91-s40-55382330

E-Mail :

info@obelindia.com  ,  devrajareddy@yahoo.com

Website :

www.obelindia.com

 

DIRECTORS

 

Name :

Mr. O. Nagabhushan Reddy

Designation :

Director

Address :

Flat No. 105, Laxmi Madhava Apartments, Anand Nagar,

Secunderabad – 500 011, Andhra Pradesh, India

Date of Birth/Age :

10.04.1967

Date of Appointment :

02.06.1999

 

 

Name :

Mrs. P. Manjula Reddy

Designation :

Director

Address :

Flat No. 105, Laxmi Madhava Apartments, Anand Nagar,

Secunderabad – 500 011, Andhra Pradesh, India

Date of Birth/Age :

02/08/1977

Date of Appointment :

02.06.1999

 

 

Name :

Mr. M. Premalatha

Designation :

Director

Address :

Flat No. 105, Laxmi Madhava Apartments, Anand Nagar,

Secunderabad – 500 011, Andhra Pradesh, India.

Date of Birth/Age :

12.08.1974

Date of Appointment :

02.06.1999

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

No. of Shares

O. Venkatrami Reddy

17000

P. Manjula Reddy

15009

M. Premalatha

12382

M. Vijiya Reddy

20000

M. Sridha Reddy

20000

K. S. M. Reddy

20000

K. Chandra Reddy

20000

O. Nagabhushan Reddy

52809

O. Reddappa Reddy

72800

B. Kumar nath Reddy

50000

                                                                                                         TOTAL:

300000

 

BUSINESS DETAILS

 

Line of Business :

To carry on deal as traders, distributors, dealers, agents and manufacturers, service, training, and develop all types of computers, computers software, hardware and tele communication equipment.

 

Manufacturer of Computers and related products.

 

 

Products :

  • Computers
  • Computers Software and Hardware
  • Tele Communication Equipment

 

 

Agencies Held :
  • Intel
  • Compaq
  • Epson
  • Hewlett Packard
  • IBM
  • D-Link
  • Acer
  • Microsoft
  • Iomega
  • 3Com
  • Mercury
  • Seagate
  • ASUS
  • Logitech
  • DFI

 

 

GENERAL INFORMATION

 

Bankers :

Tamilnadu Mercantile Bank Limited

Industrial Finance Branch, 1st Floor, Chenoy Trade Centre, Secunderabad – 500 016, Andhra Pradesh, India

Facilities :

Rs. 2.700 Millions Cash Credit as at 15/03/2002.

 

Banking Relations :

Satisfactory

 

 

Auditors :

Deva and Company

Chartered Accountant

Address:

Flat No. 303, Siddhu Residency, 59-42/2, Hill Fort Street No. 2, Basheerbagh, Hyderabad – 500 063, Andhra Pradesh, India

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

5,00,000

Equity Shares

Rs. 10 each

5.000 Millions

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

5,00,000

Equity Shares

Rs. 10 each

5.000 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

 

5.000

5.000

2] Share Application Money

 

2.388

0.000

3] Reserves & Surplus

 

3.276

1.969
NETWORTH

 

10.664

6.969

LOAN FUNDS

 

 

 

1] Secured Loans

 

11.441

6.026

2] Unsecured Loans

 

0.000

0.000
TOTAL BORROWING

 

11.441

6.026

DEFERRED TAX LIABILITIES

 

0.144

0.053
 

 

 

 
TOTAL

 

22.249

13.048
 

 

 

 
APPLICATION OF FUNDS

 

 

 
 

 

 

 
FIXED ASSETS [Net Block]

 

2.372

1.832
Capital work-in-progress

 

0.000

0.000
 

 

 

 
CURRENT ASSETS, LOANS & ADVANCES

 

 

 
 

Inventories
 

20.546

3.361
 

Sundry Debtors
 

20.674

10.377
 

Cash & Bank Balances
 

1.516

3.298
 

Loans & Advances
 

2.535

4.356
Total Current Assets
 

45.271

21.392
Less : CURRENT LIABILITIES & PROVISIONS
 

 

 
 
Current Liabilities
 

24.416

9.657
 
Provisions
 

0.994

0.550
Total Current Liabilities
 

25.410

10.207
Net Current Assets
 

19.861

11.185
 

 

 

 
MISCELLANEOUS EXPENSES

 

0.016

0.031
 

 

 

 
TOTAL

 

22.249

13.048

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005
Debt Equity Ratio

(Total Liability/Networth)

 
 

4.47

3.33
 

 
 

 

 
Current Ratio

(Current Asset/Current Liability)

 
 

1.78

2.09

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Profile

 

Obel Computers Private Limited is one of the fastest growing IT wholesale company in Hyderabad (India) and is proud to be in association with industry's most respected manufacturers. Today they have strong reach all over Andhra Pradesh and neighboring states with more than 300 resellers.

 

Strength

 

Obel's success is the results of financial strength, Dedication and team work. Obel earned a reputation for best products, support, service at an unparalleled price. They believe in complete customer satisfaction. They provide efficient and committed after sales service.

 

Products

 

  • Computers
  • CPU's - Processors
  • Memory Modules
  • Motherboards
  • Hard Drives
  • Video Cards
  • Floppy Drives
  • Cases - Enclosures
  • Controllers - SCSI
  • Monitors
  • Keyboards
  • Mice
  • Sound Cards
  • Network Cards
  • Modems
  • CD and DVD Roms
  • CD and DVD Recorders
  • Speaker Systems
  • Digital Cameras
  • Printers
  • Computer Consumables
  • Software - Microsoft
  • Software - Programs
  • Hubs - Routers - Switches
  • Accessories - UPS Backups
  • Voip Products

 

 

Bankers Charges Report as per Registry

 

Name of the Company : Obel Computers Private Limited

Presented by : --  Jointly by the Company and by the Banker

 

1. Date and description of the instrument

    creating  or evidencing the charge  

Agreement for Demand Cash Credit on the hypothecation of movable properties dated 15.03.2002

2. Amount secured by the charge /amount  

    owing on security of the charge

Rs. 2.700 millions

3. Short Particular of the property charged. If

    the property acquired is subject to change

   date of acquisition of property should be

   given 

Hypothecation of stock in trade of computer peripherals

4. Gist of the terms and conditions and extent

    and operation of the charge.

Period : 1 Year

Margin : 30%

Interest : 15.5% or BRR

5. Names, address and description of the 

    persons entitled to charge

Tamilnadu Mercantile Bank Limited

Industrial Finance Branch, 1st Floor, Chenoy Trade Centre, Secunderabad – 500 016, Andhra Pradesh, India

6. Date and brief description of instrument

    modifying the charge

1. Agreement for Demand Cash Credit on the hypothecation of movable properties

2. Letter of Hypothecation of Book Debts

3. Letter of Hypothecation

 

All dated 03.08.2004

7. Particular of modification specifying the

    terms and conditions or the extent or   

    operation of the charge in which

    modification is made and the details of

    modification

The Existing Working Capital Limit of Rs. 9.000 millions have been renewed and enhanced as follows:

 

 

Existing

Revised

Cash Credit (Stock/BD)

5.000 million

10.000 million

FLC/ILC/BG

4.000 million

4.000 million

Total

9.000 million

14.000 million

 

Security :

1] All tangible movable property such as products, stock in trade and goods of the company.

2] Book Debts.

3] Hypothecation of all kinds of computers, computers hardware, telecommunication equipments, computer software, etc.

 

Terms and Conditions:

Period : 2 Years

Rate of Interest : 14.25% or BRR

Margin : CC (S) – 25%

              CC (BD) – 30%

Commission : ILC/BG-As per service charges 

                      booklet.

                      FLC-As per IBD Instructions.  

 

 

 

 

 

Contact

 

Obel Computers Pvt Ltd.
Shop No. 7, Ground Floor, Next to Hotel Heritage CTC, Parklane, 126 Sarojini Devi Road,

Secunderabad - 500 003, Andhra Pradesh, India  

Phone : 91- 40 - 6317747, 7818012
Mobile : 91-98490 22498.
Fax : 91- 40 – 6317748

Email : info@obelindia.com

Website : http://www.obelindia.com

 

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.44.23

UK Pound

1

Rs.87.56

Euro

1

Rs.57.61

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

4

--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

 

38

 

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

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

 

 

 

 

 

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