MIRA
INFORM REPORT
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Report Date : |
12.05.2007 |
IDENTIFICATION DETAILS
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Name : |
VAIGUNTH ENER TECH PRIVATE LIMITED |
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Registered Office : |
,7th Main Road, 100 ft, Tramanilink Road, Shandesswaram,,
Velacherry, Chennai;42, Tamilnadu |
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Country : |
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Date of Incorporation : |
16.12.1997 |
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Com. Reg. No.: |
039683 |
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CIN No.: [Company
Identification No.] |
U29309TN1997PTC039683 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of
Small Wind Turbine Designed for Low Rated Velocity (Less than 9.5 m/s) |
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 company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payment 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 : |
No1A,7th Main Road, 100 ft, Tramanilink Road,
Shandesswaram,, Velacherry, Chennai;42, Tamilnadu, India |
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Tel. No.: |
91-44-42021512 / 65386574 |
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Fax No.: |
91-44-42021511 |
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E-Mail : |
Product Queries : manohar@v-enertek.com General
Queries : info@v-enertek.com Software Queries
: jenci@v-enertek.com |
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Website : |
DIRECTORS
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Name : |
Mr. A. RajaPandian |
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Designation : |
Director |
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Address : |
Mavadi Vicai, Moolchel, Mekka, Mondapam, Tamil Nadu, 609501, |
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Date of Appointment : |
29.12.1997 |
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Name : |
Mr. S. Manoharan |
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Designation : |
Director |
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Address : |
2, Teacher Colony, |
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Date of Appointment : |
29.12.1997 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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H.Sathya Bhama |
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9500 |
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R.V. Punitha Vathi |
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100 |
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A.Raja Pandian |
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100 |
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S.Rajambihai |
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100 |
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M.Veeragopalan |
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100 |
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D.Pramila |
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100 |
Equity Share Break Up:
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Small Wind Turbine Designed for Low Rated Velocity
(Less than 9.5 m/s) |
GENERAL INFORMATION
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Customers : |
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Bankers : |
Canara Bank Velachery Branch 2, Velachery,
Chennai, Tamil Nadu |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity shares |
Rs.10/- each |
Rs.1.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs.0.100 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Nil:
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number of the company |
18-039683 |
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Name of the
company |
VAIGUTH ENER TEK
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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This form is for |
Modification of
charge |
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Type of charge |
-- |
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Particular of
charge holder |
Canara Bank Velachery Branch 2, Velachery,
Chennai, Tamil Nadu |
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Nature of
instrument creating charge |
Agreement :
Colleteral Securirty : Machinery : Vechicles Agreeement :
Advances against Book Debts as Prime Security Agreement for
Stocks |
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Date of
instrument Creating the charge |
13.06.2006 |
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Amount secured by
the charge |
Rs.0.300 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Interest : 11 %
per Annum |
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Description of
the property charged |
-- |
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Particulars of
the property charged |
-- |
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This form is for |
Modification of
Charge |
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Charge
identification number of the charge to be modified |
80018897 |
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Corporate identity
number of the company |
U29309TN1997PTC039683 |
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Name of the
company |
VAIGUTH ENER TEK
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
No1A,7th Main Road, 100 ft, Tramanilink Road,
Shandesswaram,, Velacherry, Chennai;42, Tamilnadu |
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Type of charge |
Book Debts, Other |
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Particular of
charge holder |
Canara Bank 2, Chennai:600042,
Tamil Nadu, |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement for Stocks Supplemetnal
agreement for Book Debts |
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Date of
instrument Creating the charge |
16.11.2006 |
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Amount secured by
the charge |
Rs.0.700 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 12.75% per annum Terms of
Repayment The Borrower shall
pay the repayment by monthly rests Margin 25% Extent and
Operation of the Charge 100% Others: -- |
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Short particulars
of the property charged |
Primary-
Hypothecation by way of first charge on entire stocks, Stocks in transits, book
debts, receivables and claims both present and future. Colletaral-
Hypothecation by way fo first charge on entire machineries stored at No: 71A
VGP Gokul Nagar, Perambakkam P.O. Medavakkam, Chennai;601 013, both present
and future |
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Date of latest modification
prior to the present modification |
-- |
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Particulars of
the present modification |
Total limits
enchanced form Rs.0.300 Millions ro Rs.0.700 Millions Hypothecation by
way of First charge on entire stocks, book debts and outstanding monies receivables
of the company both present and future |
As Per web Site:
The Company
design and installs its Engineering and Software products that flexible,
reliable, on-site provide, commercial, industrial and government customers with
an invaluable asset. An open technology provider of power solutions, Vaigunth
draws upon its 10 years of experience to blend appropriate energy sources -
wind, sunlight with state-of-the-art controls and power electronics in systems
tailored to each customer's unique needs. Vaigunth Ener Tek offers the opportunity to invest in a
sustainable future at an attractive return.
The Company's Mission Statement is
"To become the leading supplier of Small wind turbines for wind power
projects in
Wind energy has been the fastest growing energy source in the world since 1990.However, this growth has been achieved with wind turbine technology that has required subsidization. They plan to change this picture. Since 1997, Our Company has developed twisted and parabolic Aerodynamic blades and cost effect system of Small Wind Turbine and Solar Desalination Plant up to 1000 liters per day.
Vaigunth Software Division creates and delivers industry-leading technologies that enable our customers to build, deploy, manage and integrate powerful software solutions. The software listed on this site has been handpicked, tested, reviewed and rated to bring you the very best price software.
About
Them
Vaigunth’s business started in 1997 in India
as Vaigunth Ener Tek (P) Ltd.The business was originally based on a unique,
Twisted and Aero Dynamic wind turbine System, Solar Desalination Plant
and Software Products like Hospital Management System, Hotel Management System,
Property Management System and Pharmacy Management System these are all
developed by Vaigunth Ener Tek (P) Ltd and register in India.
As the business developed, the
company realized that what a customer really needed is not just the products,
no matter how efficient and ingenious it is, but a complete power system that
is based on sound engineering and economics. Vaigunth headquartered in Chennai
and the Kanyakumari office is responsible for manufacturing, research and
development, field engineering, after sales service and technical training. By adopting quality manufacturing
methodologies, the company is able to meet the ever increasing and changing
demands from the market place. Since 1998, Vaigunth installed many stand-alone
remote area power systems, Desalination Plant and Software products in different
parts of the world.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.34 |
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1 |
Rs.81.81 |
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Euro |
1 |
Rs.55.74 |
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 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
45 |
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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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